Indulge in the iconic McDonald’s french fries
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McDonald’s is set to unveil its first-quarter financial results before the market opens on Tuesday.
According to analysts surveyed by LSEG, here’s what they are anticipating:
Earnings per share: Expected at $2.72Revenue: Expected to reach $6.16 billion
The renowned fast-food chain faced challenges in the previous quarter with disappointing sales figures. Issues such as boycotts in the Middle East due to discounts offered to soldiers by its Israeli licensee impacted sales in various markets. Additionally, temporary closures of some outlets were necessary to ensure the safety of employees during protests.
Recently, McDonald’s made headlines by announcing the acquisition of 225 restaurants operated by its Israeli franchisee.
In the United States, there has been a decline in spending among low-income consumers at the burger chain. Analysts predict this trend to persist in the current quarter, forecasting a modest 2.6% growth in domestic same-store sales, as per StreetAccount estimates.
Despite these challenges, McDonald’s shares have experienced a year-to-date decline of 7.7%,…
2024-04-29 23:01:01
Source: www.cnbc.com