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✓ Published: 01-May-2024
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✓ Published: 01-May-2024
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McDonald's reported mixed first-quarter earnings, with profits weighed down by its ongoing reorganization and same-store sales growth missing estimates. Earnings per share were below estimates at $2.70 adjusted, while revenue was slightly above estimates at $6.17 billion. US same-store sales grew 2.5% but missed estimates of 2.6%, as higher prices deterred some lower-income customers. International developmental licensed markets, which include the Middle East, saw a 0.2% same-store sales decline due to ongoing boycotts over the Israel-Palestine conflict.
McDonald's reported mixed first-quarter earnings, with profits weighed down by its ongoing reorganization and same-store sales growth missing estimates. Earnings per share were below estimates at $2.70 adjusted, while revenue was slightly above estimates at $6.17 billion. US same-store sales grew 2.5% but missed estimates of 2.6%, as higher prices deterred some lower-income customers. International developmental licensed markets, which include the Middle East, saw a 0.2% same-store sales decline due to ongoing boycotts over the Israel-Palestine conflict.
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