McDonald's Corp, the No 1 hamburger chain, on Thursday said quarterly earnings before a one-time tax charge rose 8 percent as its booming US business offset weaker results in Europe, China and Japan. Second-quarter net income, however, dropped 10 percent due to the tax charge for repatriating overseas profits. Profit slid to $530.4 million, or 42 cents per share, from $590.7 million, or 47 cents per share, a year ago.
McDonald's said its efforts to strike a balance between low-priced offerings and premium products helped increase customer visits in Europe, its No 2 market, though it continues to work on initiatives to drive sales.
McDonald's, based in Oak Brook, Illinois, said performance was weak in China and Japan. It is working on developing new products in those markets, the company said.
Total revenue rose 8 percent to $5.10 billion. Excluding the impact of a weaker US dollar, revenue was up 5 percent.
Same-store sales rose 2.8 percent, led by a 4.8 percent rise in the United States.