McDonald’s (NYSE:MCD) reported first-quarter earnings and comparable sales that fell short of analyst expectations. The company posted an earnings per share (EPS) of $2.70, just below the consensus forecast of $2.72. However, its revenue of $6.17 billion slightly exceeded the expected $6.16 billion.

Comparable sales increased by 1.9%, a sharp decline from the 12.6% growth seen in the previous year, and were just under the anticipated 2.33%. In the U.S., comparable sales growth was 2.5%, also down significantly from the prior year’s 12.6% and narrowly missing the forecast of 2.55%.

McDonald’s reported that its consolidated operating income grew by 8% during the quarter. This growth includes pre-tax charges related to restructuring under its “Accelerating the Organization” initiative, totaling $35 million for the current year and $180 million for the previous year. Without these charges, the consolidated operating income would have seen a more modest increase of 2%.

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