McDonald's Corp reported a quarterly profit that missed Wall Street estimat...
In a bid to reverse declining customer traffic and tackle competition, McDonald’s has been remodeling its 14,000 U.S. restaurants to include digital ordering kiosks, mobile ordering as well as pay and pickup services.
It has also been spending heavily on delivery by partnering with app-based delivery services GrubHub , Uber Eats and DoorDash. Sales at U.S. restaurants open for at least 13 months rose 4.8% in the third quarter ended Sept. 30, below the 5.17% growth expected by analysts, according to IBES data from Refinitiv.
Globally, McDonald’s reported better-than-expected comparable sales growth of 5.9%, driven by strong growth in markets such as the UK and France.On a per share basis, the company earned $2.11 per share missing expectations of $2.21. Total revenue, including both U.S. and overseas operations, rose to $5.43 billion, slightly below analysts’ expectations of $5.49 billion.Our Standards:
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