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Thursday, October 21, 2010

McDonald's Grows Its Hunger For Profits (NYSE: MCD)

McDonald's managed to earn $1.29 per share after reporting earnings today, on strong sales of its favorite menu items including smoothies and dollar menu items. Analysts had been expecting the company to earn $1.24 per share. Revenue for the fast food company came on at $6.3 billion beating the average analyst estimate of $6.21 billion. McDonald's has been expanding rapidly world wide. The company's locations in Africa, , Europe and China all showed string profits.

"This is one of the strongest quarters I've ever seen from McDonald's," Said Andy "Raw" Kibbens, co-CEO of The Markets Are Open. "Money managers love it when a company you think is consistent shows signs of growth."

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