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McDonald's Trades Lower On Q3 Earnings Miss

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McDonald's Trades Lower On Q3 Earnings Miss

McDonald's (NYSE: MCD) reported third-quarter GAAP earnings of $2.11 per share, which missed the analyst consensus estimate of $2.21 by 4.52%. This is a 0.48% increase over earnings of $2.1 per share from the same period last year.

The company reported quarterly sales of $5.43 billion, which missed the analyst consensus estimate of $5.49 billion by 1.09%. This is a 1.14% increase over sales of $5.369 billion the same period last year.

"Our third-quarter performance was strong, and broad-based momentum continued with our 17th consecutive quarter of global comparable sales growth," said McDonald's CEO Steve Easterbrook. "Globally, our customers are rewarding our commitment of running better restaurants and executing our Velocity Growth Plan by visiting more often."

McDonald's shares are trading down 3% at $203.40 in Friday’s pre-market session. The stock has a 52-week high of $221.93 and a 52-week low of $166.19.

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Posted-In: Earnings News Restaurants Pre-Market Outlook General Best of Benzinga

 

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