FX.co ★ Arcos Dorados Q2 Net Profit Declines

Arcos Dorados Holdings, Inc. (ARCO), a prominent McDonald's franchisee, reported a slight decline in its net income for the second quarter, reaching $26.63 million or $0.13 per share, compared to $28.37 million or $0.13 per share in the same period last year.

According to Thomson Reuters, the consensus among three analysts was for the company to deliver earnings of $0.13 per share, not accounting for special items.

The company's total revenues for the quarter saw an increase of 6.8%, rising to $1.11 billion from $1.04 billion in the previous year's corresponding quarter. When adjusted for constant currency, revenue surged by 49.0%. Additionally, systemwide comparable sales experienced a growth of 40.8%. Analysts had projected quarterly revenues to be around $1.06 billion.