NEW YORK (Reuters) - McDonald’s Corp (MCD.N), the world’s largest restaurant chain, posted a higher second-quarter profit on Wednesday, boosted by strong overseas sales.
Net income came to $1.2 billion, or $1.04 per share, compared with its year-earlier loss of $711.7 million, or 60 cents per share, when it completed the sale of its businesses in Latin America and the Caribbean.
The company’s emphasis on low-priced menu items have helped it weather the economic downturn, luring cash-strapped consumers away from higher-priced, sit-down restaurants. Overseas sales have been outpacing domestic results for some time at McDonald‘s.
Reporting by Aarthi Sivaraman, editing by Maureen Bavdek