Connect with us

Hi, what are you looking for?

Stocks

McDonald’s Reports Improved Performance Overseas

McDonald’s shares (MCD) jumped 2.75% on Wednesday amid reports of excellent Q4 performance. The fast-food giant’s performance was especially good overseas, where they report strong growth.

The fast-food superpower has been concerned over rising labor costs and other expenses such as store remodeling. The strong US dollar was also expected to weigh more heavily on international sales. Despite this news, the company is struggling in its own domestic market, where competition is getting more fierce. Promotions from rival chains, including deals cut with Uber Eats, have left the fast-food industry more competitive in the US.

McDonald’s earned $1.97 per share in the fourth quarter, which was $0.08 above forecasts according to Bloomberg. The quarter also saw sales reach $5.16 billion, just $1 million short of Wall Street predictions. Global sales are up 4.4%, a sizable increase which exceeded expectations. US growth came up to 2.3%, just shy of the 2.4% expected.

You May Also Like

News

Peloton, known for their stationary exercise bikes and treadmills, has faced significant financial challenges over the past year. The company experienced a surge in...

News

Amid the ongoing global supply chain challenges, many retailers in the United States are grappling with surplus seasonal stock, leading to increased storage costs...

News

With the continuous increase in gas prices, a decrease in consumer confidence, and the ongoing conflict in Ukraine, the European economy faces significant challenges....

News

As the demand for electric vehicles grows and the push for environmental sustainability increases, automakers are gearing up to focus more on the development...

News

Today, Brian Armstrong, the CEO of Coinbase, conveyed to his team through a company-wide email that due to declining stock and crypto values and...

News

Recently, Peiter “Mudge” Zatko, a former cybersecurity specialist at Twitter, published a whistleblowing document on the platform. Zatko highlighted several security issues with Twitter,...

News

Zelle is a popular peer-to-peer payment service that allows individuals to send and receive money, similar to apps like Venmo. It is widely used,...

News

Recently, after Chinese President Xi Jinping secured a third term, there was a sharp decline in the stock market in Hong Kong. Investors became...