McDonalds stock is trading at $265.62 as of 10:06 AM EDT.
After easily exceeding expectations with its Q3 earnings release , McDonald’s Corporation ( NYSE:MCD ) gained ground in early trade on Thursday.
In contrast to the +5.8% average, the restaurant industry giant’s global comparable sales increased by 9.5%. Notably, during the quarter, positive growth was seen in every segment.
Comparable sales in the US increased by 6.1%. Strategic menu pricing hikes and increased attendance had a favorable impact on the outcomes. Successful marketing campaigns that highlighted the main menu, as well as ongoing digital and delivery expansion, also played a part.
The international development licensed markets section saw a 16.7% increase during the quarter, while the international operated markets segment saw an increase of 8.5%. The quarter saw a 7% decline in consolidated operating income, but on a constant currency basis, it increased by 1%.
McDonalds stock forecast, performance
In premarket trading, shares of MCD increased 3.55% to $265.69, surpassing the 52-week trading range of $217.68 to $271.15. Because its meals are still less expensive than dining out at dine-in restaurants, McDonald’s has been compelled to raise the pricing of its burgers and fries, like other fast-food companies. However, even if consumer purchasing power is being squeezed, demand is still strong.
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