Fast-food chain McDonald’s Corporation (NYSE: MCD) on Monday reported an increase in adjusted earnings for the fourth quarter of 2023 when its revenues rose 8%.
The company said fourth-quarter adjusted profit increased to $2.95 per share from $2.59 per share in the comparable period of 2022. Unadjusted earnings rose to $2.03 billion or $2.80 per share in the December quarter from $1.90 billion or $2.59 per share a year earlier.
Global comparable store sales moved up 3.4% annually. At $6.41 billion, fourth-quarter net revenue was up 8% year-over-year.
“Strong execution of our Accelerating the Arches strategy has driven over 30% comparable sales growth since 2019 as our talented crew members, and the industry’s best franchisees and suppliers have demonstrated proven agility with a relentless focus on the customer,” said McDonald’s chief executive officer Chris Kempczinski.