Why McDonald's (MCD) Shares Are Trading Higher Today - McDonald's (NYSE:MCD)

McDonald’s Corp MCD reported a third-quarter FY22 sales decline of 5% year-on-year to $5.87 billion, beating the consensus of $5.72 billion.
Global comparable sales rose 9.5%, with 6.1% growth in the U.S.
Digital Systemwide sales in its top six markets were nearly $7 billion for the quarter, representing over a third of total Systemwide sales in those markets.
Sales by company-operated restaurants declined 18% Y/Y to $2.1 billion, while sales from franchised restaurants rose 5% to $3.7 billion.
Total operating costs and expenses dropped 3% Y/Y to $3.1 billion.
Operating margin was 47.1%, and operating income for the quarter fell 7% to $2.8 billion.
Adjusted EPS of $2.68 beat the analyst consensus of $2.60.
Results for the quarter were negatively impacted by foreign currency translation due to the weakening of all major currencies against the U.S. Dollar.
McDonald’s CEO on the McRib sandwich: like other greats, “you’re never sure if they’re fully retired or not.”
He added that “we are gaining share right now among low-income consumers in the U.S.”
Price Action: MCD shares are trading higher by 3.49% at $265.56 on the last check Thursday.
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McDonald's Beats On Q3 Earnings As Global Comps Surge 10%, Gains Share Among Low Income Consumers In US