McDonald's beefs up income by 7 per cent

McDonald's reported higher second-quarter profits Thursday on increased comparable sales in the US and other key markets.

Net income came in at $1.5 billion, up 7.3 per cent from the year-ago level.

Revenues declined 11.5 per cent to $5.4bn, the result of having sold some company-owned restaurants to franchisees.

"We're seeing good performance across our business as our customers tell us that they value and appreciate the moves we're making to elevate the McDonald's experience," said chief executive Steve Easterbrook.

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McDonald's to cut back corporate jobs

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Since becoming chief executive in 2015, Mr Easterbrook has focused on simplifying McDonald's offering and improving service at its US restaurants.

Comparable sales in the US rose 2.6 per cent from the year-ago level, part of a global increase of 4 per cent.

Other countries with strong growth included Britain, France and Italy, but said its performance was weak in South Korea.

Shares dipped 0.4 per cent to $158.31 in pre-market trading.

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013