McDonalds stock is trading at $265.62 as of 10:06 AM EDT.
After easily exceeding expectations with its Q3 earnings release, McDonald’s Corporation (NYSE:MCD) gained ground in early trade on Thursday.
In contrast to the +5.8% average, the restaurant industry giant’s global comparable sales increased by 9.5%. Notably, during the quarter, positive growth was seen in every segment.
Comparable sales in the US increased by 6.1%. Strategic menu pricing hikes and increased attendance had a favorable impact on the outcomes. Successful marketing campaigns that highlighted the main menu, as well as ongoing digital and delivery expansion, also played a part.
The international development licensed markets section saw a 16.7% increase during the quarter, while the international operated markets segment saw an increase of 8.5%. The quarter saw a 7% decline in consolidated operating income, but on a constant currency basis, it increased by 1%.
McDonalds stock forecast, performance
In premarket trading, shares of MCD increased 3.55% to $265.69, surpassing the 52-week trading range of $217.68 to $271.15. Because its meals are still less expensive than dining out at dine-in restaurants, McDonald’s has been compelled to raise the pricing of its burgers and fries, like other fast-food companies. However, even if consumer purchasing power is being squeezed, demand is still strong.
According to statistics from Placer.ai, a location analytics company, visits to the burger chain’s U.S. locations jumped 6.2% in September, beating traffic to the larger quick-service restaurant sector, which increased just 0.8%. On Tuesday, Chipotle Mexican Grill Inc. outperformed forecasts for quarterly sales and earnings by passing along increased costs to customers.
According to IBES statistics from Refinitiv, McDonald’s global same-store sales grew 9. The chain, which has its headquarters in Chicago, announced earnings of $2.68 per share, topping projections of $2.58 but still 6% below the same period in 2017. McDonalds Stock Rose Ahead Of Earnings: Inflation Repercussion, Menu Efforts, And FX All Key
Featured Image – Megapixl © Slavson
Author Jowi Kwasu