McDonald’s Corporation (NYSE: MCD) this week reported a sharp increase in fourth-quarter earnings, supported by a 13% increase in revenues. However, the results fell short of expectations.
The fast-food chain reported revenues of $6 billion for the December quarter, up 13% year-over-year but slightly below Wall Street’s projection. Global comparable sales were up 12.3%.
Adjusted earnings moved up to $2.23 per share from $1.70 per share last year but missed estimates. Net income was $1.64 billion or $2.18 per share, compared to $1.38 billion or $1.84 per share in the fourth quarter of 2020.
McDonald’s stock traded higher on Friday afternoon, after closing the previous session slightly below $250. The shares have declined 7% since the beginning of the year.
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