McDonald’s Profit to Exceed Estimates

McDonald’s Corp. said it expects third-quarter earnings to exceed Wall Street estimates and maintained its forecast for “relatively flat” full-year earnings.

Chairman Jack Greenberg said McDonald’s expects to earn 41 cents to 42 cents a share in its third quarter after adjusting for one-time items including foreign currency translation. The company earned 41 cents a year ago.

Analysts on average were expecting earnings of 40 cents in the current quarter, according to Thomson Financial/First Call.

Oak Brook, Ill.-based McDonald’s said the guidance reflects expectations for significant improvement in the second half of the year over the first half, most of it in the fourth quarter.

The company’s shares rose 49 cents to $28.50 on the NYSE.