Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
McDonald's (NYSE: MCD) profit climbed in the second quarter, topping analysts' expectations. To gain insight into why the company reported as it did, investors might review the company's industry, financials, and commentary.
Earnings and Revenue:
McDonald's managed to exceed Wall Street estimates with stronger-than-expected EPS and revenues. The company reported EPS of $1.35/share versus the $1.28/share estimate and revenues of $6.91 billion versus the $6.63 billion estimate. Revenue was up 16% from the year-ago quarter.
The company has now seen three quarters in a row of rising net income. McDonald's revenue has increased the past four quarters on a year-over-year basis.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Income:
For the year, McDonald's reported net income of $4.94 per share. The company trumped analyst projections of $4.83 by 2.3%. According to the reported number, the company's income rose 15% from last year's levels.
Conference Call:
The conference call for second quarter earnings can be accessed here.
Official Comment:
"McDonald's ongoing momentum reflects our commitment to the customer. By providing relevant food and beverage choices in convenient, modern restaurants, we're giving customers more reasons to visit us more often," said McDonald's Chief Executive Officer Jim Skinner. "McDonald's global results for the quarter demonstrate the resilience of our Plan to Win and our ability to execute successfully. Comparable sales and guest count increases across all segments, highlighted by June's strong results, drove double-digit operating income and earnings per share growth."
Industry:
McDonald's' industry, retail-restaurants, is currently reporting price/earnings growth of 1.4%. With its recently reported EPS, the company is trailing the industry's estimate average by 47.9%.
What to Do Next:
That's it -- now you have all the facts to help you decide whether to buy, sell or hang onto your McDonald's shares. And don't forget to check in with us before next earnings season for a full preview of the company's next release.
- To see up-to-date news on McDonald's, click here
- To see other trading ideas, click here
- To see other company earnings recaps, click here
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.