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McDonald's Q2 Profit Down - Quick Facts

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

McDonald's Corp. (MCD) reported that its second-quarter net income declined to $1.347 billion or $1.32 per share, from $1.410 billion or $1.35 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.38 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter rose to $6.916 billion from $6.905 billion in the prior year quarter. Twenty Four analysts had consensus revenue estimate of $6.94 billion for the quarter. Global comparable sales for the second-quarter increased 3.7%, with positive comparable sales in each geographic segment.

"Our System alignment and ongoing commitment to our global priorities of optimizing our menu, modernizing the customer experience and broadening accessibility to our brand will help us navigate the current environment as we continue to build our business and our brand. As we begin the third quarter, global comparable sales for July are expected to be positive, but less than second quarter," said McDonald's Chief Executive Officer Don Thompson.

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