McDonald's earnings beat estimates as U.S. traffic grows despite price hikes
Publishing timestamp: 2023-04-25 10:52:01
Summary
McDonald's reported Q1 earnings and revenue that beat analysts' expectations, with all three of its divisions reporting same-store sales growth of 12.6%. However, executives warned of potential recessions in the US and Europe later this year. The fast-food chain's US traffic rose for the third consecutive quarter, bucking the industry trend of slipping traffic. McDonald's is also working to improve the taste of its burgers and has already rolled out new burgers in many West Coast cities. Its international markets, including the UK, France, Germany, and Australia, beat same-store sales growth estimates, while sales are improving in China.
Sentiment: NEUTRAL
Tickers: MCD,
Keywords: restaurants, business, business news, breaking news: earnings, mcdonald's corp, breaking news: business, markets, united kingdom, united states, china, retail industry, earnings,
Source: https://www.cnbc.com/2023/04/25/mcdonalds-mcd-earnings-q1-2023.html