“(This is a breaking news story. Check back for updates to this article on CNBC.com.)
McDonald’s reported quarterly earnings and revenue that beat analysts’ expectations on Wednesday, but warned that it sees sales lower early in the first quarter.
After the earnings announcement, the company’s shares edged lower in pre-market trading. (Click here to see how McDonald’s stock is trading before the opening bell following the earnings release.)
The company posted fourth-quarter earnings excluding items of $1.38 per share, up from $1.33 a share in the year-earlier period.
Revenue increased to $6.95 billion from $6.82 billion a year ago.
Analysts had expected the company to report earnings excluding items of $1.33 a share on $6.89 billion in revenue, according to a consensus estimate from Thomson Reuters.
In the U.S., same-store sales were up 0.3 percent in the quarter, but same-store sales in Europe were down 0.6 percent and comparable sales in the Asia-Pacific/Mideast/Africa were off 1.7 percent.
The fast-food giant warned that it expects sales to be lower in January. “For the near-term we expect top and bottom-line growth to remain pressured, with January’s global comparable sales expected to be negative,” CEO Don Thompson said in a statement.”
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