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As the reigning king of the fast food industry, McDonald's Corp. (NYSE: MCD) has consistently demonstrated its adroitness in addressing changing economic conditions and consumer preferences.
The company's fourth-quarter earnings report provided a stark testimonial to the effectiveness of McDonald's strategy and management. Reporting earnings of 87 cents per share for the quarter, MCD exceeded the 2007 fourth-quarter results after adjusting for a 2007 tax bonus to earnings of 33 cents per share.
The company reported a 3% drop in revenues for the quarter. Excluding currency exchange rates, the global company reported an increase in revenues of 5% for the period.
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