|Published:||Oct 19, 2012 8:17 AM EDT|
|Updated:||Oct 20, 2012 6:31 AM EDT|
OAK BROOK, Ill. (AP) - McDonald's says third-quarter net income fell nearly 4 percent as the stronger dollar hurt international results.
The world's largest hamburger chain has thrived in boom and bust times by selling cheap eats and constantly updating its menu. But global economic pressures and intensifying competition is wearing at the company, which makes two-thirds of its sales overseas. Shares fell 2 percent in premarket trading.
McDonald's says net income fell to $1.46 billion, or $1.43 per share. That compares with net income of $1.51 billion, or $1.45 per share last year. Analysts expected net income of $1.47 per share. The stronger dollar hurt net income by 8 cents per share.
Revenue was nearly flat at $7.15 billion from $7.17 billion last year. Analysts expected revenue of $7.17 billion.