McDonald’s beat Q3 earnings estimates

October 28, 2021
McDonald’s beat Q3 earnings estimates

The Happy-meal creator posted stronger-than-expected Q3 results

McDonald’s revealed that for the three months ending in September, its earnings per share came in at $2.86, up 42.2% from the year-ago period. The figures came in 40 cents higher than expected. According to McDonald’s officials, the US same-store sales jumped 9.6% thanks to higher menu prices and larger order sizes.

At the same time, group revenues rose 14.1% to $6.2 billion, higher than $5.42 billion initially estimated. Moreover, in September announced it will resume its suspended $15 billion share buyback program and increased its quarterly dividend 7% to $1.38 per share.

Following the results, McDonald’s stock price was up 2.8%, pushing the year-to-date gain to around 13.4%.

Source: thestreet.com

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