By Daniel Hunter
McDonald's and Coca Cola, two of the behemoths of the global fast food and drinks industries, have both reported a sharp drop in their profits for the July-September quarter.
McDonald's profits were down 30% and Coca Cola saw a 14% fall. Both blamed weaker US sales, traditionally these companies' 'home turf', for the sharp declines.
McDonald's reported profits of $1.07bn (£661m), with a 4.6% drop in revenues to $6.99bn. It has been struggling to cope with competition with the up-and-coming Chipotle Mexican Grill in the US.
It also saw sales fall in Russia and China, where it has had to deal with a meat supplier scandal.
McDonald's chief executive, Don Thompson, said: "McDonald's third-quarter results reflect a significant decline versus a year ago. By all measures, our performance fell short of our expectations."
Coca Cola, the world's largest drinks company, reported profits of $2.1bn for the quarter, with revenues flat at $11.9bn.
Despite sales not decreasing, Coca Cola said the strength of the dollar and currency fluctuations had hurt its profits. Sales in the US were down 1%.
In August, Coca Cola spent $2.15bn to buy a 16.7% stake in Monster Beverage energy drinks business. As part of the deal, Coca Cola took over non-energy drinks brands like Hansen's Natural Sodas, Peace Tea and Hubert's Lemonade, while some of Coca Cola's less successful energy drinks were transferred to Monster.
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