Overview
McDonald’s Beats Earnings Expectations Again
McDonald’s has reported higher-than-expected earnings and revenue for Q1 2023. The fast-food giant’s net income was $1.8bn, up from $1.1bn in the previous year. Excluding restructuring charges and other items, earnings per share were $2.63, exceeding expectations of $2.33. Meanwhile, revenue was $5.9bn, up 4% on last year and higher than the expected $5.59bn.
All three of McDonald’s divisions reported same-store sales growth of 12.6%. The company’s home market, the US, achieved same-store sales growth driven by higher menu prices and increased traffic. Notably, McDonald’s US traffic rose for the…
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