McDonald's profit rises 47% to $1.9 bn in Sept quarter
Fast food giant McDonald's on Tuesday posted a 47.7% year-on-year rise in profit to $1.88 billion for the quarter ended September 30. This included a gain of about $850 million from the sale of its China and Hong Kong businesses to franchising companies. However, McDonald's revenue decreased 10.4% to $5.7 billion, due to the company's strategic refranchising initiative.