McD posts drop in Q4 profit despite strong sales

McD posts drop in Q4 profit despite strong sales

OAK BROOK Ill. McDonald's Corp. on Monday reported a 23-percent plunge in fourth-quarter profit, primarily due to a year-ago tax benefit, but it was able to continue its string of positive same-store sales despite a weak economy.

For the Dec. 31-ended quarter, McDonald's posted net income of $985.3 million, or 87 cents per share. That compares with $1.3 billion, or $1.06 per share, a year ago, when income tax benefits boosted earnings by about 33 cents a share

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