McDonald’s saw its revenue increase and even doubled its profit in the second quarter, as announced by the American fast-food chain on Thursday morning before the market opened.
According to CEO Chris Kempczinski, the quarterly results reflect the success of the implemented strategy “Accelerating the Arches.” The global comparable sales growth was 11.7 percent, with every segment showing double-digit comparable sales growth.
“While global macroeconomic challenges persist, we continue to invest in our growth drivers,” said the CEO.
The revenue of the American fast-food chain rose by 14 percent to $6.5 billion, surpassing the analyst consensus of $6.3 billion.
The net profit reached $2.3 billion compared to $1.2 billion a year ago. During the quarter, McDonald’s spent $18 million on restructuring the company. The adjusted earnings per share were $3.17, a 24 percent increase, exceeding the estimated $2.79.
Internationally, the company performed well, and it was reported that Germany, the UK, and China contributed significantly to the strong performance.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.