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McDonald’s (NYSE: MCD) Posts Strong Q2 Earnings As Sales Rise Worldwide
Posted by: | CommentsMcDonald’s (NYSE: MCD) posted a 12 percent rise in second quarter earnings as sales were strong worldwide, with Australia and China leading the way.
The fast-food giant said quarterly earnings were $1.23 billion or $1.13 a share, up from $1.09 billion or 98 cents a share in the second quarter last year.
Revenue totaled $5.95 billion in the period, up 5 percent from $5.65 billion last year. Same-store sales rose 4.8 percent in the quarter. U.S. same-store sales lagged, up 3.7 percent.
The results topped analyst estimates for earnings of $1.12 a share on total revenue of $5.91 billion.
“McDonald’s second quarter reflects strong top-line and bottom-line results with each area of the world generating higher comparable sales, traffic and profits,” said Chief Executive Officer Jim Skinner.
The company saw a 19 percent jump in operating income in the Asia/Pacific, Middle East region. That move was led by Australia and China.
“This performance demonstrates the popular appeal of McDonald’s relevant menu choices. We’re delivering great tasting food to our 60 million customers around the world every day with the outstanding value and unmatched convenience they expect from McDonald’s,” added Skinner.
McDonald’s also returned $1.6 billion to shareholders in the second quarter through dividends and share repurchases.
This article (McDonald’s (NYSE: MCD) Posts Strong Q2 Earnings As Sales Rise Worldwide) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
Morgan Stanley (NYSE: MS) Tops Estimates On Strong Trading Revenue
Posted by: | CommentsMorgan Stanley announced Wednesday that it posted a second quarter profit following a loss in the prior year quarter. The results were driven by a 53 percent jump in revenue.
The Wall Street bank and broker said second quarter earnings totaled $1.58 billion or $1.09 a share, compared to a loss of $1.26 billion or $1.10 a share in the same period a year earlier.
Revenue jumped in the quarter to $7.95 billion as trading revenues were strong. The firm’s securities unit generated revenue of $4.5 billion.
Morgan Stanley’s asset management business grew revenue as well, to $410 million from $358 million in the prior year.
Results easily topped analyst estimates for earnings of 46 cents a share on revenue of $7.93 billion.
“While markets were challenging this quarter, Morgan Stanley benefited from a deliberate and disciplined focus on execution,” said President and CEO James P. Gorman.
“We still have a great deal of work to do across our global franchise and anticipate that the difficult market environment may continue in the months ahead. That said, we believe that regulatory reforms are a key step toward restoring trust in the industry and the markets,” added Gorman.
As for compensation, Morgan Stanley said it set aside $3.89 billion in the second quarter. Costs related to compensation totaled 49 percent of revenue, same as the first quarter.
This article (Morgan Stanley (NYSE: MS) Tops Estimates On Strong Trading Revenue) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.
Several big name financial institutions, such as Bank of America (NYSE: BAC) and JP Morgan (NYSE: JPM) are looking for ways to increase fee income in order to offset expected revenue declines from the financial reform bill.
The latest version of the financial reform bill passed on Thursday is expected to pressure revenue in several areas ranging from items like transaction fees on debit card transactions to proprietary trading at banks.
The rule changes may lead banks to start implementing fees that had essentially disappeared from the industry early in the new millennium, such a fees for not meeting mininumu balance requirements on a checking account, or reinstituting fees for certain online banking transactions that are currently free.
Banks are legitimately concerned with revenue declines due to the new rules as Bank of America said on Friday that it could stand to lose more than $2 billion in yearly revenue just from the changes in what fees can be charged on debit card transactions.
The financial reform bill, which is expected to be signed by President Obama soon, represents the largest sweeping change in the banking industry since the Great Depression era.
This article (Bank Of America (NYSE: BAC), JP Morgan (NYSE: JPM) Target Fees To Offset Revenue Drags From Financial Reform) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.