McDonald's, the world's largest restaurant company, said today third-quarter earnings fell 1 per cent, despite signs of slow recovery from the effects of mad cow disease on consumer demand in Europe.
Earnings posted net income of $545.5 million, or 42 cents a share, from $548.5 million, or 41 cents a share a year earlier.
The company, based in Oak Brook, Illinois, which yesterday announced restructuring moves in the US market designed to jump-start growth and trim costs, was expected to earn between 38 and 41 cents a share, with a consensus at 39 cents, based on a poll of analysts by Thomson Financial/First Call.