Fast-food chain McDonald’s Corporation (NYSE: MCD) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when its revenues remained broadly unchanged.
The company said fourth-quarter adjusted profit increased 16% to $2.59 per share from $2.23 per share in the comparable period of 2021. Unadjusted earnings rose to $1.90 billion or $2.59 per share in the December quarter from $1.64 billion or $2.18 per share a year earlier.
Global comparable store sales moved up 12.6% annually. At $5.93 billion, fourth-quarter net revenue was broadly unchanged year-over-year.
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“While we expect short-term inflationary pressures to continue in 2023, we remain highly confident in Accelerating the Arches, which now includes a greater emphasis on new restaurant openings,” said McDonald’s chief executive officer Chris Kempczinski.
