McDonald’s earnings for the fourth quarter of 2018 has the company beating out some of Wall Street’s estimates, but missing others.
McDonald’s (NYSE:MCD) starts off its earnings report for the fourth quarter of the year with earnings per share of $1.97. This is up from the company’s earnings per share of $1.71 from the same period of the year prior. It was also good news for MCD stock by beating out Wall Street’s earnings per share estimate of $1.89 for the quarter.
Net income reported in the McDonald’s earnings release for the fourth quarter of 2018 came in at $1.42 billion. This is better than the company’s net income of $698.70 million reported in the fourth quarter of 2017.
The McDonald’s earnings report for the fourth quarter of the year also includes operating income of $2.00 billion. The fast food chain’s operating income reported during the same time last year was $2.14 billion.
McDonald’s earnings for the fourth quarter of 2018 also saw the company bringing in revenue of $5.16 billion. This is a decrease from the company’s revenue of $5.34 billion reported in the fourth quarter of the previous year. It also just missed analysts’ revenue estimate of $5.17 billion for the period, which is likely what is keeping MCD stock from rising more today.
“We’ve now achieved 14 consecutive quarters of positive global comparable sales and our customers rewarded us with more visits in 2018, helping us to achieve two consecutive years of global guest count growth for the first time since 2012,” McDonald’s CEO Steve Easterbrook said in a statement.
MCD stock was up slightly as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.