OAK BROOK Ill. McDonald’s Corp. reported Wednesday that fourth-quarter profit more than doubled from a year earlier to $1.24 billion, or $1.00 per share, on gains from the spin-off of its Chipotle Mexican Grill business and strong global sales.
The earnings were in line with preliminary results released last week. Per-share profit from continuing operations, which excludes the 39-cents-per-share gain from Chipotle’s divestiture, totaled 61 cents, an increase of 30 percent from the prior year’s fourth quarter. Corporate revenues for the quarter ended Dec. 31 rose 11 percent to $5.63 billion. Global same-store sales increased 6.3 percent, aided by breakfast and Snack Wrap sales in the United States and the strongest sales results in Europe over the past 15 years.
For the full year also ended Dec. 31, McDonald’s earned $3.54 billion, or $2.83 per share, versus profit of $2.60 billion, or $2.04 per share, in fiscal 2005. Revenues for fiscal 2006 rose 9 percent to $21.6 billion. Global same-store sales increased 5.7 percent.
For the full year also ended Dec. 31, McDonald’s earned $3.54 billion, or $2.83 per share, versus profit of $2.60 billion, or $2.04 per share, in fiscal 2005. Revenues for fiscal 2006 rose 9 percent to $21.6 billion. Global same-store sales increased 5.7 percent.