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.
McDonald's Corporation MCD will release earnings results for its third quarter, before the opening bell on Tuesday, Oct. 29.
McDonald's is expected to report its third-quarter earnings before the bell on Tuesday. Wall Street analysts surveyed by LSEG expect earnings per share of $3.20 and revenue of $6.82 billion.
On Sunday, McDonald's offered an update into the E. coli outbreak that has plagued the fast food giant for over a week now.
Quarter pounders have been returned to McDonald's menus after an E.coli outbreak in the US, but the fast-food giant has warned cases are still expected to rise.
McDonald's (MCD) will bring its Quarter Pounders back to the menu in more than 900 restaurants in Colorado, Kansas, and Wyoming, as well as portions of nine other states, after an E. coli outbreak last week.
McDonald's investors will look for signs of near-term sales disruption from the recent E. coli outbreak linked to its Quarter Pounder hamburgers when it reports third-quarter results on Tuesday.