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Friday, February 3, 2023

McDonald’s Earnings Impress As Sales Grow Despite Price Increases

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McDonald’s Corp.  (MCD) – Get McDonald’s Corporation Report posted better-than-expected second quarter earnings Tuesday as global comparable sales continued to impress even as inflation costs forced higher costs on fast-food customers. 

McDonald’s said diluted earnings for the three months ending in June were pegged at $2.55 per share, up 7.6% from the same period last year and firmly ahead of the Street consensus forecast of $2.47 per share. Group revenues, McDonald’s said, fell 2.9% to $5.72 billion, just shy of analysts’ estimates of a $5.82 billion tally.

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