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11/9/2020, 4:55 PM (Source: TeleTrader)
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McDonald's to create plant-based burger McPlant

American fast-food company McDonald's Corp. announced on Monday it will be creating its own plant-based burger called McPlant. The company said at the press conference it intends to test the new burger on several markets starting next year.

The announcement came after the company reported its earnings for the third quarter earlier today. Its earnings per share jumped 11% year on year to $2.35 in the third quarter while the net income was up 10% over the same period and came in at $1.8 billion in the three-month period ended September 30.

After the announcement, the stock of US producer of plant-based meat substitutes Beyond Meat paused its trading due to volatility. It is expected that Beyond Meat announces its earnings for the third quarter after the closing bell today.

Breaking the News / TF