Burger King's profit surprises the market and rises 69% in first quarter

SÃO PAULO-unlike its competitor McDonald's that! the market this week by announcing a lower profit in the first quarter, Burger King had a better result than expected. The network of Diners controlled by Brazilian private equity firm 3 g Capital had net income of $ 60.4 million in the first quarter of this year, 69% greater than the gain of $ 35.8 million registered in the same period in 2013. Despite the variation in the profit of Burger King have been expressive, the gain is still smaller than the McDonald 's, which reported a profit of $ 1.2 billion in the first quarter of 2014
In the same comparison, earnings per share rose to $ 0.17 from $ 0.10. The gain adjusted per share was $ 0.20. Revenue fell 26 percent, to $ 240,9 million. With adjustments, however, revenue climbed 6.9%.
The profit exceeded expectations, but revenue was slightly below expectations. Analysts queried by Thomson Reuters expected adjusted earnings per share of $ 0.19 and $ 241,3 million revenue.
Same store sales rose 2 percent in the first quarter compared with the same time last year. Only in the USA and Canada, the increase in sales was 0.1%. Expenditure of the restaurants of the network, in turn, fell 86 percent, to $ 15.5 million. Source: Dow Jones Newswir