McDonald's Profit Leaps on Solid U.S. Sales

McDonald's Stock at Highest Since 2000 After 4Q Profit Jumps on Strong Sales at U.S. Outlets

Feb 11, 2006 - 10:38
McDonald's Corp. stock rose to a 5 1/2-year high Tuesday after the fast-food chain reported a 53-percent jump in fourth-quarter profit on continuing strong sales at its U.S. outlets and improving results in Europe.

The results were in line with the preliminary earnings figures released by the company Jan. 17, but underscored its continuing momentum since it ended a rare slump nearly three years ago.

Shares in the company rose 45 cents, or 1.4 percent, to $36.16 in morning trading on the New York Stock Exchange, its highest split-adjusted price since June 2, 2000. The stock has now tripled its value since pulling out of a nosedive in early 2003.

Net income for the last three months of 2005 was $608 million, or 48 cents per share, up from $398 million, or 31 cents per share, a year earlier.

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Source - AP