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Arcos Dorados Q1 Profit Declines
(RTTNews) - Arcos Dorados Holdings, Inc. (ARCO), a restaurant chain and McDonald's franchisee, reported Wednesday that net income attributable to the company for the first quarter declined to $28.51 million or $0.14 per share from $37.41 million or $0.18 per share in the prior-year quarter.
Total revenues for the quarter grew 9.1 percent to $1.08 billion from $990.79 million in the same quarter last year. However, it surged 46.8 percent in constant currency. Systemwide comparable sales grew 38.6 percent in the first quarter.
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Arcos Dorados Q2 Net Profit Declines
Arcos Dorados Holdings, Inc. (ARCO), a restaurant chain and McDonald's franchisee, reported Wednesday that net income attributable to the company for the second quarter declined to $26.63 million or $0.13 per share from $28.37 million or $0.13 per share in the prior-year quarter.
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399 days ago
U.S. Dollar Advances After Fed Decision
The U.S. dollar climbed against its major counterparts in the New York session on Wednesday, as the Federal Reserve cut its key interest rate and projected two more reductions for this year.
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7 minutes ago
Fed Cuts Rates By Quarter Point, Forecasts Two More Rate Cuts This Year
In a widely expected move, the Federal Reserve on Wednesday announced that it has decided to lower interest rates by a quarter point, marking the first rate cut of 2025. The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 4.0 percent to 4.25 percent, citing a shift in the balance of risks.
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4h 5min ago
Swiss Market Ends Marginally Down
After a weak start and a subsequent long spell in negative territory, the Switzerland market briefly moved above the flat line in late afternoon trade on Wednesday, but failed to sustain momentum and settled marginally down with a few frontline stocks turning weak again.
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4h 32min ago
European Markets Close Mixed After Cautious Session
European stocks turned in a mixed performance on Wednesday with investors digesting regional economic data, and awaiting the Federal Reserve's monetary policy announcement due later in the day.
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5h 1min ago
Canadian Market Modestly Higher At Noon; BoC Lowers Interest Rate
Canadian stocks are up in positive territory around noon on Wednesday with investors reacting to the Bank of Canada's decision to cut interest rates by 25 basis points. The recent weak labor market data and economic slowdown have raised prospects of further easing by the Canadian central bank.
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6h 28min ago
Bank Of Canada Lowers Interest Rates By A Quarter Point
After leaving interest rates unchanged for three straight meetings, the Bank of Canada on Wednesday announced its widely expected decision to lower rates by a quarter point. The Bank of Canada said it decided to reduce its target for the overnight rate by 25 basis points to 2.5 percent, with the Bank Rate at 2.75 percent and the deposit rate at 2.45 percent.
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7h 9min ago
U.S. Housing Starts Pull Back Much More Than Expected In August
After reporting significant increases in new residential construction in the U.S. over the two previous months, the Commerce Department released a report on Wednesday showing housing starts pulled back by much more than expected in the month of August. The Commerce Department said housing starts plummeted by 8.5 percent to an annual rate of 1.307 million in August.
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8h 9min ago
