McDonald's Posts Strong Q2 Profit Amid US Market Pressure

McDonald's posted strong second-quarter profits and appointed a new leader for its US market. The company reported same-store sales growth of 0.8% in the US, down from 2.5% last year. Global same-store sales rose 1.3%. McDonald's warned that high gas prices and consumer anxiety could impact sales.

CEO Chris Kempczinski said the company will focus on improving performance in its largest market. The company has introduced a simplified menu with items priced at $3 or less to attract budget-conscious customers.

The US average regular gasoline price peaked at $4.56 per gallon on May 21, according to AAA. McDonald's earned $2.36 billion, or $3.32 per share, for the three months ended June 30. Excluding one-time charges and benefits, earnings were $3.38 per share, beating analyst expectations.