McDonald's earnings, revenue miss estimates as consumer pullback worsens
Publishing timestamp: 2024-07-29 04:01:01
Summary
McDonald's missed second-quarter earnings and revenue estimates, with same-store sales falling for the first time since the fourth quarter of 2020. The company is leaning on value meals to bring back customers as it deals with a worsening consumer pullback. Executives acknowledged that diners considered their prices too high and are working to make necessary adjustments. McDonald's reported quarterly earnings and revenue that missed analysts' expectations, with same-store sales declining across every division.
Sentiment: NEGATIVE
Tickers: MCD,
Keywords: restaurants, united states, business, mcdonald's corp, business news, breaking news: business, markets, breaking news: markets, earnings, breaking news: earnings, retail industry,
Source: https://www.cnbc.com/2024/07/29/mcdonalds-mcd-q2-2024-earnings.html