McDonald’s third-quarter earnings and revenue exceeded Wall Street expectations.
- IMPORTANT NOTES
- Global same-store sales increased 8.8% in the third quarter, exceeding StreetAccount projections of 7.8%.
- Same-store sales in the United States grew 8.1%, owing to intentional price hikes.
McDonald’s announced quarterly earnings and revenue that exceeded analysts’ estimates on Monday, as price increases bolstered its U.S. sales. In premarket trade, the company’s stock surged more than 2%. Here’s how the company’s results compared to what Wall Street expected, according to an LSEG, now known as Refinitiv, survey of analysts:
- Earnings per share: $3.19 adjusted vs. $3 expected
- Revenue: $6.69 billion vs. $6.58 billion expected
The fast-food behemoth posted third-quarter net income of $2.32 billion, or $3.17 per share, an increase from $1.98 billion, or $2.68 per share, a year ago.
McDonald’s earned $3.19 per share after deducting items. It’s revenue increased 14% year on year to $6.69 billion. Global same-store sales increased 8.8% in the third quarter, exceeding Street Account’s expectation of 7.8%. Same-store sales in the United States grew 8.1%, owing to intentional price hikes. It did not say how much its prices have climbed since the previous year. The chain also attributed its sales surge to marketing initiatives, internet and delivery orders.
It’s worldwide operated markets division reported 8.3% rise in same-store sales, fueled by strong demand in the United Kingdom, Germany, and Canada. Same-store sales increased by 10.5% in the company’s international developmental licensing markets division, which includes China and Japan. According to CEO Chris Kempczinski, the broader economic climate is unfolding in line with the company’s plans for the year.
Frequently asked questions
What is McDonalds famous for?
It’s Corporation (McDonald’s) is one of the world’s largest and most well-known fast-food corporations, best known for its hamburgers, french fries, and name-brand sandwiches including the Big Mac, Quarter Pounder, and Egg McMuffin, as well as the kid-friendly Happy Meal.
Who is the CEO of all McDonalds?
Chris Kempczinski
Who is the largest owner of McDonald’s?
The Vanguard Group, Inc.
Click here to learn about McDonald’s.
