McDonald's today posted its second-ever loss and its first in nearly five years when it reported losses of $711.7 million in the second quarter because of a hefty one-time charge.
For the quarter ending June 30th, the world's largest restaurant chain said its net income swung to a loss of 60 cents per share. That's compared to a second-quarter profit of $834.1 million or 67 cents per share, a year earlier.
Today's report mirrored McDonald's pre-announced earnings results.
Revenue climbed 12 per cent to $6 billion, from $5.36 billion, spurred by strong breakfast sales and robust business in stores open at least a year.
Excluding the non-cash impairment charge of $1.6 billion relating to the sale of some Latin American operations, the company said it would have earned $869.9 million, or 71 cents per share.
