5.3% profit drop for McDonald’s

McDONALD’S said second-quarter profit fell 5.3% because of an increase in advertising spending that helped boost sales in the US for the third month in a row.

Net income dropped to $470.9 million, or 37 cents a share, from $497.5 million or 39 cents, in the year-earlier period, the Oak Brook, Illinois-based company said in a statement. Revenue rose 11% to $4.28 billion, helped by currency gains.

Demand for new salads with Newman’s Own dressings helped US sales at restaurants open at least 13 months rise 4.9% in the quarter, ending a more than one-year decline.