McDonald's affordable food drew even more customers in its fourth quarter, but the burger chain said it may raise prices this year as its own food tab rises.
Its emphasis on low-priced items and an expanding menu , helped sales. McDonald’s Corp., based in Oak Brook, Ill., reported that its net income rose 2 percent to $1.24 billion, or $1.16 per share, for the quarter. That’s up from $1.22 billion, or $1.11 per share, a year ago.
Revenue climbed 4 percent to $6.21 billion.
The results met the expectations of analysts surveyed by FactSet.
However, the company said it expects food cost will rise 2 to 2.5 percent in the U.S. and 3.5 to 4.5 percent in Europe in 2011.