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Retail

McDonald's beats on earnings, but misses on US same-store sales


McDonald’s on Wednesday reported quarterly earnings and revenue that beat analysts’ expectations, but fell short on U.S. same-store sales growth.

Shares initially fell but are now up less than 1 percent in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.97, adjusted, vs. $1.89
  • Revenue: $5.163 billion vs. $5.162 billion expected
  • Global same-store sales: 4.4 percent vs. 3.9 percent expected

U.S. same-store sales were slightly weaker than expected, with the company reporting growth of 2.4 percent during the quarter. Analysts had been expected U.S. same-store sales growth of 2.4 percent.

The fast food giant reported fiscal fourth-quarter net income of $1.42 billion, or $1.82 per share, up from $698.7 million, or 87 cents per share a year earlier.

Excluding items, McDonald’s earned $1.97 cents per share, beating the $1.89 per share expected by analysts surveyed by Refinitiv.

Net sales dropped 3 percent to $5.163 billion, but still beat Wall Street’s expectations of $5.162 billion.

This is a breaking news story. Please check back for updates.



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