McDonald's First Quarter Profit Beats Estimates;U.S. Sales Decline

McDonald's Corp.,  said first-quarter profit rose more than analysts estimated after record European revenue gains outweighed the first drop in U.S. comparable-store sales in five years.U.S. sales at stores open at least 13 months fell 0.8 percent in March, McDonald's said today in a regulatory filing. The first decline since March 2003 occurred as consumers pinched by rising fuel costs and sinking home values cut spendingSame-store sales at European restaurants jumped 11 percent in the quarter, spurred by breakfast foods in the U.K., small chicken sandwiches in France and cheeseburgers in Germany