Is McDonald‘s still on its burger throne, despite revenue losses?
The fast-food giant did suffer losses compared to the same quarter last year, but it smashed the estimates set up by Wall Street, reports the Globe and Mail.
Last year’s quarter was $2.22 billion, or $2.95 per share.
This year, McDonald’s is reporting $1.19 billion, or $1.60 per share.
However, McDo adjusted earnings to $1.89 billion, or $2.55 per share, for this quarter, while analysts were expecting an average of $2.47 per share, according to Thompson Reuters’ calculation.
In the end, revenue fell 2.9%, but McDonald’s, which has to live with today’s reality of inflation, still beat Wall Street’s expectations!