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McDonald’s Corp. reported its Q1 financial results before the opening bell over in the US on Thursday.
World’s biggest fast food company reported revenue of $5.666 billion in the quarter, beating analyst forecast of $5.57 billion.
Earnings per share also topped analyst estimates at $2.28 per share vs. $2.17 per share expected.
“In a quarter that saw an increasingly complex and uncertain operating environment, I am proud to share that once again the Arches have shone brightly,” President and CEO of the company, Chris Kempczinski said in a press release after the strong Q1 results.
“Our strong performance in the first quarter was underpinned by global comparable sales up nearly 12%, reflecting broad-based momentum across all segments. In most of our major markets, we sustained QSR traffic share gains by focusing on elevating our brand, accelerating digital channels and showcasing our core equities of chicken and beef. By staying on the side of the consumer and executing our strategy, Accelerating the Arches, we have continued to drive growth. It is why I believe there has never been a better time to be part of brand McDonald’s,” Kempczinski added.
McDonald’s Corp. chart
The latest results had a positive impact on the share price at the open on Wednesday, the stock was up by over 2% at $252.09 per share.
Here is how the stock has performed in the past year:
McDonald’s price targets
McDonald’s Corp. is the 57th largest company in the world, with a total market cap of $186.39 billion.
You can trade McDonald’s Corp. (MCD) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: McDonald’s Corp., TradingView, CompaniesMarketCap
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