7/26, 1:07 PM (Source: TeleTrader)
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McDonald's: Q2 revenue at $5.7B down 3% YoY

McDonald's revealed on Tuesday its revenue for the second quarter of 2022 came in below estimates at $5.7 billion, sliding 3% compared to the previous year's figure. Operating income reached $1.7 billion, falling by 36%.

Diluted earnings per share stood at $1.60, dropping by 46% year on year. Net income as well slid by 46% to $1.19 billion.

"The McDonald’s System continues to demonstrate strength and resiliency," said the company's President and CEO Chris Kempczinski, adding "By focusing on our customers and crew, enabled by a rapidly growing digital capability, we delivered global comparable sales growth of nearly 10%. Nonetheless, the operating environment across the competitive landscape remains challenging."

McDonald's shares rose 0.48% in premarket trading following the release of the quarterly results.

Baha Breaking News (BBN) / AB