McDonald's profit edges up but global sales dip

NEW YORK (AP) ? McDonald's says its profit edged up slightly for the first quarter even as a global sales figure declined for the world's biggest hamburger chain.

Global sales at established restaurants fell 1 percent during the period, including a 1.2 percent drop in the U.S. where it has been trying to attract customers by touting its Dollar Menu.

The figure fell 1.1 percent in Europe and 3.3 percent in the region encompassing Asia, the Middle East and Africa.

For the quarter, the company earned $1.27 billion, or $1.26 per share. That compares with $1.266 billion, or $1.23 per share, a year ago.

Revenue edged up 1 percent to $6.6 billion.

Analysts expected a profit of $1.26 per share on revenue of $6.59 billion, according to FactSet.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-04-19-Earns-McDonald's/id-dc208349601544bd896c7141b6cce3b5

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