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McDonald's 3Q profits rise
No. 1 fast-food chain's preliminary results show earnings up 42 percent; Sept. sales rise 10.6%
October 13, 2004: 8:34 AM EDT

NEW YORK (CNN/Money) - McDonald's Corp. on Wednesday said its third-quarter profits rose 42 percent, according to a preliminary tally, and sales at its namesake restaurants open at least a year rose 10.6 percent in September.

McDonald's (Research) shares rose 3.5 percent in pre-market trading on Instinet to $28.52.

Oak Brook, Ill.-based McDonald's said the quarterly results included a 7 cents-a-share benefit from a lower tax rate related to an international transaction.

"By keeping our focus on our customers, McDonald's competitive position is strengthening," president and CEO Charlie Bell said in a statement. "McDonald's U.S. performance for the month and quarter was particularly impressive considering the hurricanes and heavy rains."

Comparable sales for the quarter rose 8.5 percent at its U.S. restaurants, and are up 10.4 percent year-to-date. Global comparable sales rose 7.6 percent in September.

McDonald's is scheduled to report final third-quarter results next Tuesday.

Analysts have forecast a profit of 49 cents a share for the quarter, according to First Call."  Top of page




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