MCD - Why Arcos Dorados Was a Golden Stock This Week
Arcos Dorados (NYSE: ARCO) shareholders were a happy bunch this week. After all, their stock enjoyed a nearly 9% rise across the Monday-to-Friday trading stretch, according to data provided by S&P Global Market Intelligence . But that's what a convincing earnings beat will do, and the company certainly scored on that measure.
On Wednesday morning, before market open, Arcos Dorados released its first-quarter results. These revealed that the mega-franchiser of McDonald's (NYSE: MCD) restaurants in Latin America earned total revenue of almost $791 million. That was a triple-patty increase of nearly 41% year over year.
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Why Arcos Dorados Was a Golden Stock This Week