McDonald's Q2 results fall short of expectations
Fast-food giant McDonald's posted quarterly revenue and earnings that fell short of expectations on Monday as customers continued to refrain from dining out in the three months ended 30 June.
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McDonald's said revenues were up 2.01% to $6.49bn in the quarter, short of Wall Street expectations of $6.63bn, while the company's net income fell 12% to $2.0bn, or $2.80 on a per share basis, markedly different from the $3.07 per share profit expected by analysts.
Global same-store sales decreased by 1%, compared to expectations for a 0.84% increase. US same-store sales decreased 0.7%, the company's first US same-store sales decline since 2020, partly offset by price increases to its menu items. International franchised locations posted a 1.3% year-on-year drop.
As of 1410 BST, McDonald's shares were up 0.63% in pre-market trading at $253.59 each.
Reporting by Iain Gilbert at Sharecast.com