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McDonald’s profit falls 30%: Are Australia’s fast food companies next?


By Andrew Mudie –

Analysts were delivered a rude shock on Monday (US time) when long-time fast food supremo McDonald’s Corporation (NYSE:MCD) reported a 30% fall in profit and acknowledged significant headwinds in most markets.
McDonald’s shares fell over 3% on the news that third quarter profit fell to US$1.07 billion from US$1.52 billion last year, and earnings per share fell to US$1.09 a share from US$1.52 last year. Analysts expected US$1.37 a share but most importantly McDonald’s management reported that the company was facing headwinds in many of its regions.