Tuesday, June 8, 2010

McDonald's May sales up but sees euro drag on profit

Roughly a quarter of McDonald's consolidated operating income originates in countries that use the euro currency, the world's biggest hamburger chain said on Tuesday. Based on current exchange rates, McDonald's expects currency conversion to hurt full-year net income per share, versus its previous expectation for a slight benefit. The company, which gets more than half of its revenue and profits from outside the United States, gave no further details.On Tuesday, the euro hovered near a four-year low against the dollar on concerns over a widening European debt crisis that has struck financial markets and could constrict consumer demand.

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