McDonald's Q4 Revenue Increases
McDonald's has reported revenues of $6bn for the fourth quarter ended December 31, 2009, an increase
Net income for the quarter was 1.2bn, an increase of 23% compared to $985.3m for the previous year quarter. On a per share-basis, earnings increased 28% to $1.11 from $0.87 in the previous year. Operating income for the quarter was $1.9bn, and increase of 22% compared to 1.5bn for the corresponding period prior year.
Operating income increased 5% in the US, 20% in Europe and 51% in Asia/Pacific, Middle East and Africa.
The company said that in the fourth quarter, US operating income rose as consumers enjoyed core menu favorites, everyday value offerings and new premium products, including McCafe espresso-based coffees and the Angus Third Pounder, and commodity costs eased.
The UK, France and Russia led the segment's operating income growth for the quarter. Emphasis on fourth-tier menu development, product innovation, daypart expansion and restaurant reimaging continued to gain market share, added the company.
In the fourth quarter, Asia/Pacific, Middle East and Africa (APMEA) delivered double-digit operating income growth fueled by results in Australia, expansion in China and operating efficiencies and lower commodity costs in many markets.
Revenue for the full year 2009 was $22.8bn, a decrease of 3% compared to $23.5bn for the previous year. Net income for the year was $4.5bn compared to $4.3bn for the prior year. Operating income for the year was $6.9bn compared to $6.4bn for the previous year.
Jim Skinner, chief executive officer of McDonald's, said: "McDonald's 2009 results reflect the broad-based strength of our global business. In addition, McDonald's profitability increased as we marked our sixth consecutive year of positive comparable sales in every geographic segment and generated higher global revenues, operating income and earnings per share in constant currencies - all tremendous accomplishments given the tough global economy."