McDonald’s revenue falls short of Street estimates

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McDonald’s Corp. MCD, -1.42% posted net income totaling $1.188 billion, or $1.60 per share, down from $2.219 billion, or $2.95 per share, last year. Adjusted EPS of $2.55 beat the FactSet consensus for $2.47. Revenue of $5.718 billion was down from $5.888 billion last year and missed the FactSet consensus of $5.801 billion. Global comparable sales rose 9.7% with the U.S. up 3.7%. The FactSet consensus was for 6.8% global growth and U.S. growth of 3%. The company attributed U.S. comparable sales growth to menu price increases as well as value and digital offerings. McDonald’s stock was roughly unchanged in Tuesday premarket trading. Shares are down 6.6% for the year to date while the Dow Jones Industrial Average DJIA, +0.28% has slumped 12% for the period.

This article was originally published by Marketwatch.com. Read the original article here.

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