Reportedly, burger giant McDonald’s Corporation (MCD) reported Q3 earnings beating market estimates, as customers continued to order through drive-thru outlets and delivery apps amid the pandemic. The company’s promotional deal with rapper Travis Scott also pushed sales.
The company’s total revenue dropped by 2% to $5.42 billion beating estimates of $5.40 billion for the third- quarter ending September 30 and depicting recovery from an over 30% drop posted in the second quarter.
Net income rose 10% to $1.76B and earning per share of $2.22 per share was reported, beating estimates of $1.90.
The company continues to witness sluggish sales outside the United States including France, Germany, and the United Kingdom, which now is expected to intensify further by new lockdown restrictions imposed due to a rise in Covid-19 cases.
McDonald’s Corporation (MCD) is the leading global foodservice retailer with nearly 37,000 locations in over 100 countries. The Corporation operates and franchises McDonald’s restaurants in the US and across the globe with over 90% of its restaurants owned and operated by local, independent businessmen and women. To learn more about McDonald’s Corporation (MCD) and to track its progress please visit the Vista Partners McDonald’s Coverage Page.
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