- McDonald’s beat expectations for its second-quarter earnings and revenue, thanks in part to price increases.
- US comparable sales, at stores open for at least one year, fell short of analysts’ expectations.
- McDonald’s recently expanded its delivery offering and has introduced new tech including self-order kiosks to modernise its stores.
- Watch McDonald’s trade in real time here.
McDonald’s on Thursday reported second-quarter earnings that topped analysts’ expectations, but its US sales growth fell short.
The fast-food chain posted $US1.99 in adjusted earnings per share, beating the forecast for $US1.93 according to Bloomberg.
US comparable sales, at locations open for at least one year, increased by 2.6%, missing the forecast for 3% growth. The US growth was partly driven by price increases, the company said.
Whether in-store or through delivery, “we remain focused on delivering the most enjoyable experience for every customer, every visit,” Steve Easterbrook, McDonald’s CEO, said in the earnings statement. McDonald’s has expanded its delivery offering to up to 5,000 US restaurants through a partnership with UberEats.
Under Easterbrook’s leadership, the company has adopted new technologies including self-order kiosks in an effort to modernise its stores. It’s also introduced new menu items such as fresh-beef burgers.
Second-quarter revenue totaled $US5.35 billion, beating the forecast for $US5.33 billion
McDonald’s shares were little changed, up by less than 1%, ahead of the market open; they fell 7.7% this year through the close on Wednesday.
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