UPDATE: McDonald's Posts Downbeat Q2 Profit

McDonald's

reported a rise in its second-quarter profit. McDonald's quarterly profit climbed to $1.4 billion, or $1.38 per share, versus $1.35 billion, or $1.32 per share, in the year-ago period. Its sales increased 2% to $7.08 billion from $6.92 billion. However, analysts were estimating earnings of $1.40 per share on sales of $7.08 billion. McDonald's global same-store sales climbed 1% in the quarter. McDonald's shares dropped 2.59% to $97.67 in pre-market trading.