McDonald's profits drop due to strong dollar
October 20 , 2012
McDonald's has reported weaker third-quarter profits on the back of a stronger dollar and increasing competition.
A stronger dollar means international sales are worth less after profits are repatriated.
Net income dropped to $1.46 billion for the quarter, compared to $1.51 billion the previous year.
Total sales sat at $7.15 billion, marginally down from $7.17 billion last year.
Meanwhile, global sales at stores open at least 13 months increased by 1.9 percent, below expectations of a 2 percent rise.