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McDonald’s Corporation (NYSE:MCD) reported its results for the third quarter. Net income for McDonald’s Corporation rose to $1.51 billion ($1.45 per share) vs. $1.39 billion ($1.29 per share) in the same quarter a year earlier. This marks a rise of 8.6% from the year earlier quarter. Revenue rose 13.7% to $7.17 billion from the year earlier quarter. MCD beat the mean analyst estimate of $1.43 per share. It beat the average revenue estimate of $7.01 billion.
“McDonald’s third quarter results reflect the ongoing strength of our customer-focused Plan to Win. We are executing the right strategies to grow the business for the long term while delivering consistently strong quarterly results,” said McDonald’s Chief Executive Officer Jim Skinner. “The investments we are making to optimize our menu, modernize the restaurant experience and broaden McDonald’s accessibility with ongoing convenience and value platforms are driving profitable market share growth – a clear indication that our strategy is working.”
Competitors to Watch: Chipotle Mexican Grill, Inc. (NYSE:CMG), Good Times Restaurants Inc. (NASDAQ:GTIMD), Carrols Restaurant Group, Inc. (NASDAQ:TAST), Tim Hortons Inc. (NYSE:THI), Yum! Brands, Inc. (NYSE:YUM), Jack in the Box Inc. (NASDAQ:JACK), Panera Bread Company (NASDAQ:PNRA), Nathan’s Famous, Inc. (NASDAQ:NATH), Wendy’s Arby’s Group Inc. (NYSE:WEN), Starbucks Corporation (NASDAQ:SBUX), Sonic Corporation (NASDAQ:SONC) and Darden Restaurants (NYSE:DRI).
Verizon Communications (NYSE:VZ) reported its results for the third quarter. Net income for Verizon Communications rose to $3.54 billion (49 cents per share) vs. $881 million (31 cents per share) in the same quarter a year earlier. This is a more than fourfold rise from the year earlier quarter. Revenue rose 5.4% to $27.91 billion from the year earlier quarter. VZ reported adjusted net income of 56 cents per share. By that measure, the company fell in line with the mean estimate of 56 cents per share. Analysts were expecting revenue of $27.91 billion.
“Verizon emerges from the third quarter in a strong position to accelerate growth,” said Lowell McAdam, Verizon president and chief executive officer. “We faced significant challenges in recent months, yet delivered results that keep us on track to meet our 2011 earnings and revenue guidance, with great momentum expected entering 2012. We continue to grow revenues from strategic products and to increase free cash flow through improved operating performance and disciplined capital spending.”
Competitors to Watch: AT&T Inc. (NYSE:T), Sprint Nextel Corporation (NYSE:S), Deutsche Telekom AG (DTEGY), MetroPCS Communications, Inc. (NYSE:PCS), Vodafone Group Plc (NASDAQ:VOD), CenturyLink, Inc. (NYSE:CTL), NTELOS Holdings Corp. (NASDAQ:NTLS), Leap Wireless Intl., Inc. (NASDAQ:LEAP), Windstream Corporation (NASDAQ:WIN), and United States Cellular Corp. (NYSE:USM).
General Electric Company (NYSE:GE) from reporting a profit boost in the third quarter. Net income for General Electric Company rose to $3.22 billion (22 cents per share) vs. $2.06 billion (18 cents per share) in the same quarter a year earlier. This marks a rise of 57% from the year earlier quarter. Revenue remained flat at $35.4 billion from the year earlier quarter. GE reported adjusted net income of 31 cents per share. By that measure, the company fell in line with the mean estimate of 31 cents per share. Analysts were expecting revenue of $34.86 billion.
“We are pleased to deliver our sixth consecutive quarter of double-digit operating earnings growth in a volatile macro environment,” GE Chairman and CEO Jeff Immelt said. “We improved earnings, achieved solid double-digit infrastructure order growth, executed on our balanced capital allocation plan and maintained a strong balance sheet. We ended the quarter with a record high order backlog of $191 billion and we remain confident in our full-year 2011 operating framework.”
Competitors to Watch: Siemens AG (NYSE:SI), 3M Company (NYSE:MMM), Hitachi, Ltd. (NYSE:HIT), United Technologies Corp. (NYSE:UTX), Koninklijke Philips Electronics NV (NYSE:PHG), Honeywell Intl. Inc. (NYSE:HON), Danaher Corporation (NYSE:DHR), Textron Inc. (NYSE:TXT), OSI Systems, Inc. (NASDAQ:OSIS), and Bio-Rad Laboratories, Inc. (NYSE:BIO).
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