McDonald’s Corp. said 1988 earnings rose 17.6%...
McDonald’s Corp. said 1988 earnings rose 17.6% to $645.9 million from 1987, while revenue advanced 14% to $5.57 billion. In the fourth quarter, profit advanced 16.9% to $151.5 million on revenue of $1.45 billion, up 14% from the year-ago period. The Oak Brook, Ill.-based fast-food chain credited the gains to higher sales, expansion of new restaurants, the effect of stronger foreign currencies and a lower U.S. tax rate.
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