Loading...
Loading...
- McDonald’s Corp MCD reported third-quarter FY21 sales growth of 14% year-on-year, to $6.2 billion, beating the analyst consensus of $6.03 billion.
- Global comparable sales increased 12.7% (10.2% on a 2-year basis). Comparable sales in the U.S. rose 9.6%, and the International Operated Markets segment rose 13.9%.
- Sales by company-operated restaurants grew 14% Y/Y to $2.6 billion, while sales from franchised restaurants rose 15% to $3.5 billion.
- Total operating costs and expenses rose 11% Y/Y to $3.2 billion.
- The operating margin was 48.2%, and operating income for the quarter rose 18.2% to $2.9 billion.
- Adjusted EPS of $2.76 beat the analyst consensus of $2.46.
- The company recently raised its quarterly cash dividend by 7% to $1.38 per share and announced the resumption of its share repurchase program.
- McDonald’s also issued a separate statement that it agreed with International Business Machines Corp IBM to accelerate further the development and deployment of its Automated Order Taking (AOT) technology.
- Under the deal, IBM will acquire McD Tech Labs, which was created to advance employee and customer-facing innovations following McDonald’s 2019 acquisition of Apprente. The financial terms were not disclosed.
- Upon closing, the McD Tech Labs team will become part of the IBM Cloud & Cognitive Software division.
- Price Action: MCD shares are trading higher by 2.26% at $241.76 on the last check Wednesday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in