Categories Earnings, Retail

McDonald’s misses Q3 earnings target by 10 cents

McDonald’s Corporation (NYSE: MCD) on Tuesday reported third-quarter revenues that edged up 1% to $5.43 billion, compared to analysts’ expectation of $5.49 billion. The fast-food joint reported its seventeenth consecutive quarter global comp sales, which came in at 5.9% in Q3.

Franchise-operated stores continued to outperform Company-operated restaurants with regards to revenue generation in Q3. While revenues from franchised restaurants grew 5%, revenues from company outlets fell 4%.

McDonald’s Q3 2019 earnings infographic

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

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.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top