McDonald's Corporation (NYSE: MCD ) has released its earnings report for the fourth quarter of 2016.
Revenue reported by McDonald's Corporation in the fourth quarter of 2016 was $6.03 billion. This is down from the company's revenue of $6.34 billion from the same time last year. However, it did come in above Wall Street's revenue estimate of $5.99 billion for the quarter.
McDonald's Corporation reported earnings per share of $1.44 for the fourth quarter of 2016. This is above the company's earnings per share of $1.31 that it reported during the fourth quarter of 2015. It also came in above analysts' earnings per share estimate of $1.41 for the fourth quarter of the year.
For the fourth quarter of 2016, McDonald's Corporation reported operating income of $1.97 billion. Operating income from the same period in the year prior was $1.88 billion. Net income for the most recent quarter was $1.19 billion. Net income from the same time last year was $1.21 billion.
McDonald's Corporation also reported that comparable sales in the fourth quarter of 2016 were down 1.3% in the United States. It attributes this decline in comparable sales to strong sales from the launch of all-day breakfast during the same period last year.
International comparable sales reported by McDonald's Corporation in the fourth quarter of 2016 were up 2.8%. Strong sales in the United Kingdom helped make this possible. MCD also notes that "sales-driven improvements in franchised margin dollars" were behind some of the increase.
"As we begin the first quarter of 2017, we are mindful of the comparison we face against first quarter 2016 results, which benefited from leap year, favourable weather and continued momentum from All-Day Breakfast in the U.S.," Steve Easterbrook, President, Director and CEO of McDonald's Corporation, said in a statement.
MCD stock was down 1% as of Monday morning.
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