MCD stock gained after McDonald’s said that it earned $1.2 billion during the quarter, down from $1.27 billion during the prior-year period. EPS came in at $1.21, below the $1.24 that analysts had anticipated, Reuters noted.
Sales at U.S. restaurants dropped 1.7%. That was worse than then 1.4% sales declined Wall Street had forecast for U.S. locations during the quarter. MCD U.S. restaurant sales have now fallen short of analysts estimates for six straight quarters.
MCD sales at restaurants in Europe, by contrast, gained 1.4%. That topped analysts’ predictions of a 1.2% gain. MCD noted that higher sales in the United Kingdom, France and Russia was “partially offset by ongoing weakness in Germany.” European sales increases were attributed to “a combination of unique limited-time food events, premium offerings and everyday affordable pricing contributed to positive performance.”
Asia Pacific, the Middle East and Africa (APMEA) region MCD restaurant sales moved up 0.8%, also beating estimates of a 0.5% gain.
Revenue during the quarter climbed 1% to $6.7 billion.
MCD stock closed at $99.67 per share on Monday.
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