McDonald's, the manager of the world's largest chain of fast food restaurants, which also operates in our country, today presented its results for the last quarter before the trading session, which were disappointing. But before the trading session, its shares went up: McDonald's 253.48 (0.59%) .
During the last quarter, the mentioned company's revenue reached 6.49 billion. dollars and were almost the same as a year ago, while the market expected them to amount to an average of 6.61 billion. dollars.
Meanwhile, sales at restaurants that have been open longer than the last twelve months fell by one percent, compared to expectations for a 0.4 percent increase. This is the first drop in this indicator since the fourth quarter of 2020.
McDonald's operating profit during the mentioned period shrank by six percent to 2.92 billion. dollars, and net profit – twelve percent to 2.022 billion. dollars, or up to 2.8 dollars per share. Adjusted earnings per share amounted to $2.97, which was 10 cents below the average analyst estimate.
In total, after the first half of this year, the fast food restaurant chain manager's income reaches 12.659 billion. dollars, or two percent more than a year ago during the same period. Operating profit slightly increased to 5.655 billion. dollars, and net profit fell by four percent to 3.951 billion. dollars.
McDonald's market value has fallen 14.1 percent in the past one year, and 15.2 percent this year. For comparison, the value of the Dow Jones Industrial Average index increased by 14.3 and 7.7 percent, respectively.