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On a comparable basis, revenue increased 8.8 percent. McDonald’s compares revenues for restaurants that have been open for at least the last 13 months. Analysts on average expected an increase of 7.8 percent. The burger chain also benefited from price increases and advertising campaigns, among other things.
However, McDonald’s recorded its weakest growth ever this year. The administration had warned in July that developments might slow down due to high inflation and rising interest rates. McDonald’s had net income of about $2.3 billion, after almost $2 billion the previous year. Restructuring costs slowed profit growth somewhat. Shares rose 2.1 percent premarket. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
