McDonald’s reports jump in Q2 profits

NEW YORK: McDonald's reported higher second-quarter profits Tuesday behind strong comparable sales in key markets, including the United States.

Net income for the quarter ending June 30 was $1.4 billion, up 28 percent from the year-ago period in results that easily topped analyst expectations.

Revenues dipped three percent to $6.0 billion, partly due to the strong dollar and the refranchising of restaurants.

Chief executive Steve Easterbrook, who was appointed in 2015 amid a lengthy slump at McDonald's, said the results showed progress following efforts to improve service and simplify the menu in its home market.

The United States accounts for about one-third of McDonald's revenues. "We're building a better McDonald's and more customers are noticing," Easterbrook said.