McDonald's Quarterly Profit Falls Short of Street Views
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Dow Jones
By Colin Kellaher
McDonald's posted first-quarter earnings that missed Wall Street's expectations, as consumers rein in their spending.
The Chicago fast-food giant on Tuesday reported adjusted earnings of $2.70 a share for the quarter, up from $2.63 a share a year earlier but shy of the $2.72 that analysts polled by FactSet, on average, were expecting.
Revenue rose 5% to $6.17 billion, just ahead of the $6.16 billion Wall Street was looking for.
Worldwide comparable sales rose 1.9%, below analysts' expectations for a rise of 2.1%, with U.S. comparable sales up 2.5%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 30, 2024 07:15 ET (11:15 GMT)
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