McDonald’s (MCD): No Longer On Steroids, Stock Off On Earnings

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The need for more and more people to have inexpensive and convenient food may be tailing off. McDonald’s (MCD) fourth quarter results were lackluster. .

Net income fell 23% to $985 million.

Total revenue was off 3% to $5.6 billion.

Global comparable sales increased f 7.2%, fueled by the U.S. 5.0%,, Europe 7.6% and Asia/Pacific, Middle East and Africa 10.0%

"McDonald’s begins 2009 with six years of momentum, a business model that has delivered even in challenging economic conditions and January sales that remain strong," the company said.

Douglas A. McIntyre