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Iconic US fast-food company McDonald’s reported third-quarter earnings yesterday and comfortably beat Wall Street estimates.
The company reported Q3 earnings per share of $2.35, surpassing estimates for a $1.91 EPS.
It also reported revenues of $5.42 billion, again beating estimates for a $5.4 billion result.
Strong Growth in US Sales
Looking at the breakdown of the earnings call, McDonald’s reported a Q3 net income of $.176 billion.
This marked a firm rise from the $1.61 billion reported a year earlier.
However, there were some weak spots in the results. Despite the revenues beat, revenues were actually 2% lower year on year while global same-store sales were lower by 2.2%.
The drop in same-store sales was attributed to the slower recovery in the group’s international markets. However, same-store sales in the US came in higher by 4.6%. This was largely thanks to the September partnership-promotion with global rap star Travis Scott.
Notably, McDonald’s outlined that its recovery is out...
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