Why McDonald's Corporation Stock Popped Today
McDonald's Corporation (NYSE: MCD) stock gained 4.8% on Tuesday after the fast food juggernaut announced better-than-expected second-quarter 2017 results.
Quarterly revenue declined 3.4% year over year to $6.05 billion, albeit primarily due to the impact of McDonald's strategic refranchising efforts. Systemwide sales rose 8% at constant currency, helped both by new locations and global comparable-restaurant sales growth of 6.6%. On the bottom line, net income rose 28% year over year to $1.395 billion, and net income per share increased 36% to $1.70. Earnings per share rose 19% (21% at constant currency) after adjusting for the impact of strategic expenses recognized in last year's second quarter.
Meanwhile, analysts' consensus estimates predicted McDonald's would report lower earnings of $1.62 per share on revenue of $5.96 billion.
Source: Fool.com
McDonalds Corp. Stock
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