McDonald's is about to report earnings. Here's what to expect
📰 source: cnbc_investing · 💼 business
mcdonald's reported mixed second-quarter results on tuesday. u.s. same-store sales rose just 0.8% as traffic fell, though average check increased. earnings per share of $3.38 adjusted beat expectations of $3.32, but revenue of $7.10 billion came in slightly below the $7.13 billion analysts expected. net income rose to $2.36 billion, or $3.32 per share, from $2.25 billion a year earlier.
the company also named sky anderson president of its u.s. business, effective tuesday, succeeding joe erlinger who led the division for over six years. anderson, a 26-year mcdonald's veteran, was previously u.s. chief operating officer. ceo chris kemczinski said the playbook is working globally but sees an opportunity to raise the bar in the u.s. shares rose 2% in premarket trading.
globally, same-store sales ticked up 1.3%, meeting expectations. international operated markets grew 1.5%, and developmental licensed markets rose 1.9%. in june, mcdonald's unveiled a new growth strategy focused on restaurant design, better-tasting food, and customer service, aiming to become diners' first choice every time.
why it matters: mixed results and new u.s. leadership signal mcdonald's is prioritizing its home market amid slowing traffic.
source: cnbc_investing
sentiment: +0.00 · impact: 0.60