10/27/2022, 1:07 PM (Source: TeleTrader)
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McDonald's Q3 revenue tops expectations, shares soar

McDonald's Corp. said on Thursday in its third-quarter earnings results that its global comparable sales expanded by 9.5%, led by growth in all market segments. A positive change was also recorded in the United States, where the fast-food chain marked the ninth successful trimester in a row.

Commenting on the results, Chief Executive Chris Kempczinski asserted McDonald's continues to operate "from a position of competitive strength" despite macroeconomic uncertainties. The 2022 results so far were impacted by the strengthening of the US dollar, the company added.

The data revealed key financial indicators all made annual declines in the third quarter. Revenue fell 5% to $5.87 billion, operating income 7% to $2.76 billion, while net income shrank 8% to $1.98 billion or diluted earnings per share of $2.68.

McDonald's shares surged nearly 3% premarket following the announcement.

Baha Breaking News (BBN) / ND