McDonald’s revenue misses estimates as Middle East conflict weighs on quarterly sales
Publishing timestamp: 2024-02-05 10:26:56
Summary
McDonald's reported mixed fourth-quarter results, beating earnings estimates but missing on revenue. The company attributed the revenue miss to the conflict in the Middle East, which impacted its sales in the region. McDonald's saw slower sales growth in its international markets, particularly in the Middle East and France. However, domestic same-store sales rose in line with expectations. The company plans to open new locations and increase capital expenditures to accelerate its expansion.
Sentiment: MIXED
Tickers: MCD,
Keywords: retail industry, mcdonald's corp, restaurants, business news, breaking news: markets, earnings, markets, breaking news: earnings, breaking news: business, business,
Source: https://www.cnbc.com/2024/02/05/mcdonalds-mcd-q4-2023-earnings.html