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Benzinga
  • 2 years ago
McDonald's reported mixed first-quarter earnings, with profits weighed down by its ongoing reorganization and same-store sales growth missing estimates. Earnings per share were below estimates at $2.70 adjusted, while revenue was slightly above estimates at $6.17 billion. US same-store sales grew 2.5% but missed estimates of 2.6%, as higher prices deterred some lower-income customers. International developmental licensed markets, which include the Middle East, saw a 0.2% same-store sales decline due to ongoing boycotts over the Israel-Palestine conflict.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 McDonald's reported mixed first quarter earnings with profits weighed down by its
00:06 ongoing reorganization and same-store sales growth missing estimates. Earnings per share
00:11 were below estimates at $2.70 adjusted, while revenue was slightly above estimates at a little
00:16 more than $6 billion. U.S. same-store sales grew 2.5%, but missed estimates of 2.6% as higher
00:23 prices deterred some lower-income customers. International developmental license markets,
00:28 which includes the Middle East, saw a 0.2% same-store sales decline due to ongoing boycotts
00:33 over the Israel-Palestine conflict. For all things money, visit Benzinga.com.
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