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- McDonald’s falls short on revenue for the first time since 2022
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- McDonald’s falls short on revenue for the first time since 2022
- Founded: 1940
- Headquarters: Chicago, Illinois, United States
- Number of employees: 150,000 (2022)
- Industry: Fast food restaurants, real estate
- Key people: Enrique Hernandez Jr. (chairman), Chris Kempczinski (president & CEO)
- 5 day: -2.17%
- 1 month: -2.03%
- 3 months: +6.34%
- Year-to-date: -3.55%
- 1 year: +6.74%
- Bank of America: $341
- Stifel Nicolaus: $322
- HSBC: $317
- Truist Financial: $340
- Piper Sandler: $299
- TD Cowen: $325
- BMO Capital Markets: $335
- Royal Bank of Canada: $315
- Citigroup: $310
- DZ Bank: $300
- Wedbush: $310
- Stephens: $300
- JP Morgan Chase & Co.: $278
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & AnalysisNews & AnalysisMcDonald’s falls short on revenue for the first time since 2022
6 February 2024 By Klavs ValtersThe US earnings season continues. To kick things off this week, McDonald’s Corporation (NYSE: MCD), released Q4 2023 and full year results before the opening bell on Monday.
World’s largest restaurant chain reported revenue that fell short of Wall Street expectations for the first time since Q2 2022 at $6.406 billion vs. $6.448 billion expected. Revenue was up by 8% vs. Q4 2022.
Earnings per share (EPS) reached $2.95 vs. analyst estimate of $2.827 per share. EPS was also up by 8% year-over-year.
Full year revenue reached $25.493 billion, up from $23.182 billion in 2022. EPS grew by 39% year-over-year to $11.56 per share.
Company overview
CEO commentary
“Our global comparable sales growth of 9% for the year is a testament to the tremendous dedication of the entire McDonald’s System,” CEO of McDonald’s, Chris Kempczinski said in a press release.
“Strong execution of our Accelerating the Arches strategy has driven over 30% comparable sales growth since 2019 as our talented crew members, and the industry’s best franchisees and suppliers have demonstrated proven agility with a relentless focus on the customer. By evolving the way we work across the System, we remain confident in the resilience of our business amid macro challenges that will persist in 2024,” Kempczinski added.
Stock reaction
The stock was down by 3.73% at the end of trading on Monday, trading at $285.97 a share, falling to its lowest level since 8/12/23.
Stock performance
McDonald’s stock price targets
McDonald’s Corporation is the 51st largest company in the world with a market cap of $207.42 billion, according to CompaniesMarketCap.
You can trade McDonald’s Corporation (NYSE: MCD) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.
GO Markets offers pre-market and after-market trading on popular US Share CFDs.
Why trade during extended hours?
Sources: McDonald’s Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.
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