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McDonald's Shares Rise as Profit Beats Estimates

July 16, 2005|From Bloomberg News

McDonald's Corp. shares had their biggest gain in nine months after second-quarter profit beat analysts' estimates, spurred by new menu items and longer hours in the United States.

Net income fell to about 42 cents a share from 47 cents a year earlier, McDonald's said. But sales at locations open more than a year had their biggest gains since March, rising 3.8% in June and 2.8% in the quarter.

Shares of McDonald's rose $1.39 to $30.99.

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