MCD's third-quarter U.S. comps suffer due to a decline in guest counts.
U.S. stocks traded mixed this morning, with the Dow Jones index edging lower on Tuesday.
McDonald's (MCD) reported an earnings beat as the fast-food giant reels from its E. coli outbreak.
McDonald's CEO Chris Kempczinski told investors that the company views the E. coli outbreak linked to its Quarter Pounder burgers as "being behind us.
Matt Todd breaks down the latest quarterly figure from the Golden Arches. As McDonald's (MCD) consumers face rising inflation costs, Matt dissects the fast food giant's discounting strategy with its $5 Value Meal.
McDonald's (MCD) came out with quarterly earnings of $3.23 per share, beating the Zacks Consensus Estimate of $3.18 per share. This compares to earnings of $3.19 per share a year ago.
McDonald's global sales fell for the second consecutive quarter, down 1.5%. Fast-food chains have faced challenges from food inflation, affecting consumer spending habits.
McDonald's shares slipped in premarket trading Tuesday after it reported higher third-quarter revenue but lower profit than last year, as the fast-food giant's same-store sales fell more than expected.
McDonald's Corp has reported a drop in comparable sales for a second consecutive quarter due to pressure in the likes of China, France and the UK and war in the Middle East. Global comparable sales fell by 1.5% over the third quarter, the fast food giant reported on Tuesday, marking a steeper decline than the 0.72% forecast by analysts.
The company's stock was down in premarket trades Tuesday morning.
McDonald's on Tuesday posted a steeper-than-expected drop in quarterly global comparable sales, hurt by weaker traffic across its key markets even as it intensified promotions to woo back customers after several years of price hikes.
McDonald's is preparing to reveal its third-quarter earnings this Tuesday, with analysts expecting mixed results as the chain faces ongoing challenges. In light of a recent E.