Hurt by foreign currency translation, adjusted net income fell to $2.11 per share, from $2.16 per share a year ago. The bottom-line missed street consensus by 10 cents.
READ: Procter & Gamble is strong in Q1, expects more strength for FY20
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MCD shares fell 3.7% immediately following the announcement. The stock has gained 19% since the beginning of this year.
CEO Steve Easterbrook said, “Globally, our customers are rewarding our commitment of running better restaurants and executing our Velocity Growth Plan by visiting more often.”
Earlier this month, rival Domino’s Pizza Inc. (NYSE: DPZ) missed revenue and earnings expectations for the third quarter of 2019, sending shares falling 6.6% in premarket hours on Tuesday. Yum! Brands (NYSE: YUM) will report financial results on October 30.