McDonald’s on Tuesday reported comparable sales and earnings above market expectations, even as expenses rose, with the fast-food chain benefiting from steady online demand, new product launches and higher prices. tall.
The chain’s global same-store sales increased by nearly 10% in the second quarter, compared with an expected increase of 6.5%.
With growing evidence of a decline in consumer spending, Chief Executive Chris Kempczinski said “the operating environment across the competitive landscape remains challenging.”
To increase the number of customers, McDonald’s bet on exclusive online offers that boosted downloads of its apps. Launching new products also helped.
Total expenses rose 25% to $4.01 billion in the second quarter, weighing on net income, which nearly halved to $1.19 billion, or $1.60 a share.
The results included $1.2 billion in charges related to the sale of its Russian business. On an adjusted basis, earnings per share of $2.55 beat estimates of $2.47, according to data from Refinitiv.
Total revenue fell 3% to $5.72 billion and was below expectations of $5.81 billion, hit by weak demand in China due to the Covid-19 outbreaks and related government restrictions.
Source: CNN Brasil
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