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1/27, 1:04 PM (Source: TeleTrader)
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McDonald's: Q4 revenue rises by 14% to $6.1 billion

McDonald's Corporation announced on Thursday its revenue in the fourth quarter of the fiscal year 2021 saw annual growth of 14% to come in at $6.1 billion, slightly below market expectations. Its revenue in the entire year went up by 18% in comparison to 2020 to hit $23.2 billion. The company's net income stood at $1.64 billion in the fourth trimester, rising by 20% in contrast with the same period the year before. Its diluted earnings per share (EPS) increased by 20% year-on-year to reach $2.18 per share.

"While 2021 was a year of continued challenges around the world, the McDonald's System came together with unparalleled dedication and delivered truly exceptional performance," its President and Chief Executive Officer Chris Kempczinski stated. "We enter this new year with a clear focus on creating seamless and memorable customer experiences and harnessing our momentum to drive long-term, sustainable growth for all of our stakeholders."

Following the release of the results, the shares of McDonald's declined by 2.23% in premarket trading.

Baha Breaking the News (BBN) / JR