McDonald's comparable sales growth misses estimates

(Reuters) - McDonald’s Corp (MCD.N) reported much lower-than-expected quarterly sales growth at established restaurants in the United States and the burger chain said it faced “a challenging environment in several key markets.”

Comparable sales at U.S. restaurants open at least 13 months rose 1.8 percent in the second quarter, widely missing the average analyst estimate of a 3.2 percent rise, according to research firm Consensus Metrix.

McDonald’s shares fell 3.5 percent to $122.97 in premarket trading on Tuesday.

Comparable sales at worldwide restaurants increased 3.1 percent, missing the average estimate of 3.6 percent rise.

The company’s net income fell 9.1 percent to $1.09 billion, or $1.25 per share, in the quarter ended June 30.

Total revenue declined 3.5 percent to $6.27 billion, in line with the average analyst estimate, according to Thomson Reuters I/B/E/S.

Excluding some items, McDonald’s earned $1.45 per share, according to Thomson Reuters calculation, topping the average estimate of $1.38.

(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Kirti Pandey)