McDonalds reports increased income in 2010
2011-01-26 15:24:32
Net income at McDonald’s Corp. totaled $4,946.3 million in fiscal 2010, equal to $4.58 per share on the common stock, up 9% from $4,551 million, or $4.11 per share, in fiscal 2009. Revenues for the year climbed 5% to $16,233.3 million, up from $15,458.5 million in fiscal 2009. During the fourth quarter ended Dec. 31, net income totaled $1,242.3 million, or $1.16 per share, up from $1,216.8 million, or $1.11 per share, and revenues were $4,170.2 million, up 3% from $4,030 million in the same period a year ago.
“We generated strong sales and delivered profitable market share growth, along with higher global revenues, operating income and earnings per share,” said Jim Skinner, chief executive officer. “McDonald’s continued success demonstrates that our Plan to Win works in any environment and has positioned us to continue our performance in 2011.” Global comparable sales rose 5% in the fourth quarter, with sales in the United States up 4.4%, sales in Europe up 3.4% and sales in Asia/Pacific, Middle East and Africa up 5.5%.
However the company admitted it will be rising prices soon because commodity prices are rising. The question is how this will affect sales.