The Ronald McDonald balloon floats in Macy's Legendary Thanksgiving Day Parade in New York. Photographer: Ben Hider/Getty Images
McDonald’s Corp. (MCD), the world’s largest restaurant chain, fell the most in more than three months as it forecast foreign-currency fluctuations would reduce profit this year.
The shares fell 1.9 percent to $99 at 11:59 a.m. in New York and earlier dropped as much as 2.4 percent, the biggest intraday decline for theOak Brook, Illinois-based company since Oct. 4. The shares gained 31 percent last year.
McDonald’s, which gets about 60 percent of its revenue outside the U.S., said profit may be trimmed as the European debt crisis sinks the region’s currency. Foreign-exchange fluctuations may cut 2012 profit by as much as 18 cents a share and first-quarter earnings by as much as 3 cents, Chief Financial Officer Peter Bensen said today on a conference call.