European Growth Sends McDonald’s Net Up 11 Percent

BusinessWeek:

McDonald’s Corp. says its first-quarter net income rose 11 percent as more customers dined under the Golden Arches, especially in Europe.

McDonald’s is battling higher prices for beef and other ingredients. High-profit coffee drinks have helped it offset those pressures. It may also raise menu prices.

Net income rose to $1.2 billion, or $1.15 per share, for the quarter that ended March 31. That was up from $1.1 billion in the same quarter, or $1 per share, last year.

Earnings beat analyst expectations for $1.14 per share.