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McDonald's has record 2Q
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July 22, 1999: 3:00 p.m. ET
Hamburger colossus's net income up 45%; expansion plans on track
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NEW YORK (CNNfn) - McDonald's Corp., the number one fast food chain, served up a record global results special Thursday that met Wall Street's expectations.
The Oak Brook, Ill.-based restaurant empire saw second-quarter earnings rise 45 percent to $518 million, or 37 cents per share, from $357 million, or 25 cents per share, a year earlier. The year-ago figure excludes a one-time charge $110 million after taxes, or 8 cents per share.
McDonald's (MCD) per share earnings matched expectations of analysts polled by First Call Corp.
System-wide sales rose 7 percent to $9.9 billion from $9.2 billion a year earlier. Operating income was up 37 percent to $883.5 million.
The company also said it is on track to add about 1,750 restaurants in 1999, with about 90 percent located outside the United States.
Jack Greenberg, chairman and CEO, said the company has repurchased more than $770 million of common stock under a $3.5 billion, three-year repurchase plan since last September.
Shares of McDonald's dipped 13/16 to 42-3/16 in midday trading. 
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McDonald's
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