McDonald’s Misses Q3 Estimates But U.S. Sales Beat Forecasts As Diners Spend More

Benzinga

McDonald’s missed earnings and revenue estimates for the quarter but posted stronger-than-expected U.S. same-store sales growth of 2.4%, driven by higher spending per order. CEO Chris Kempczinski said the results show McDonald’s can maintain growth even as low-income diners pull back.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02McDonald's missed Wall Street earnings estimates, but reported stronger than expected same-source

00:06sales growth in its U.S. restaurants, according to CNBC.

00:09McDonald's reported adjusted earnings of $3.22 per share at $7.08 billion in revenue,

00:15missing Wall Street estimates of $3.33 per share and $7.1 billion.

00:20The income rose slightly to $2.28 billion from $2.26 billion a year ago.

00:24U.S. same-source sales grew 2.4%, topping expectations of 1.9%.

00:29These customers paid more per order despite ongoing value wars.

00:33CEO Chris Kamzynski said McDonald's results show its ability to sustain growth

00:37despite warning for over a year about reduced spending from low-income diners.

00:41For all things money, visit Benzinga.com.

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