The Clap
McDonalds has topped analyst’s expectations for earnings in Q2.
The Deets
McDonalds saw a 10% increase in same store sales, higher than the expected 6.5%. This was credited due to increased prices as well as value items.
Net sales went down by 3% following the exit from the market in Russia and Ukraine. They had gone down to $5.72 billion, less than the expected $5.81 billion. This exit pushed up expenses for McDonalds due to charges they had to pay.
This led to a decrease in net income by 46%, recording $1.19 billion in Q2.
Why does this matter?
McDonalds maintained its share price at $250.50. The lower than expected revenues followed by the higher than expected earnings per share led McDonalds to hold their stock price down.
McDonalds topples expectations for Q2 earnings 💪
