Fast-food chain McDonald’s Corporation (NYSE: MCD) Tuesday reported a modest increase in sales and adjusted earnings for the third quarter of 2024. The numbers also came in above estimates.
The company said its third-quarter adjusted profit increased to $3.23 per share from $3.19 per share in the comparable period of 2023. Meanwhile, unadjusted earnings dropped to $2.26 billion or $3.13 per share in the September quarter from $2.32 billion or $3.17 per share a year earlier.
Global comparable store sales dropped 1.5% annually during the three months. At $6.87 billion, third-quarter net revenue was up 3% year-over-year. Both adjusted earnings and the top line exceeded analysts’ estimates.
“McDonald’s will continue to follow our Accelerating the Arches playbook to drive long-term growth globally and win in this environment,” said McDonald’s chief executive officer Chris Kempczinski.
