February 15, 2013 at 14:35 PM EST
Burger King Feeling Heat From Bargain Hunters
The world's second-largest burger chain shot past analysts' fourth-quarter expectations. But Burger King Worldwide (BKW) said it's feeling the heat from the cheaper value offerings from its much larger arched enemy, McDonald's (MCD). Burger King reported adjusted fourth-quarter earnings of 23 cents, up 64% and 8 cents more than analysts surveyed by Thomson Reuters expected. Revenue declined 30% to $404.5 million, topping views for $371.3 million.
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