McDonald's 2Q profit falls 0.7 percent

FILE - In this July 11, 2013 photo, a taxi cab passes a McDonald's restaurant in New York's Times Square. McDonald's Corp. reports quarterly financial results before the market opens on Tuesday, July 22, 2014. (AP Photo/Mark Lennihan, File)

OAK BROOK, Ill. (AP) — McDonald's Corp. (MCD) on Tuesday reported earnings that declined by 0.7 percent in its second quarter, and missed analysts' expectations.

The Oak Brook, Illinois-based company reported profit of $1.39 billion, or $1.40 per share, compared with $1.4 billion, or $1.38 per share, in the same quarter a year ago. The average per-share estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.43.

The company said revenue rose 1.4 percent to $7.18 billion from $7.08 billion in the same quarter a year earlier, but missed Wall Street forecasts. Analysts expected $7.29 billion, according to Zacks.

McDonald's shares have increased 52 cents, or 0.5 percent, to $97.55 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.8 percent. However, the stock has dropped 3 cents, or 0 percent, in the last 12 months.