McDonald’s fast food giant
MCDONALDS
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Published its results for the first quarter of 2022, during which the company recorded revenues totaling about 5.67 compared to analysts’ expectations of about $ 5.57 billion. Bottom line, the company reported $ 2.28 earnings per share compared to analysts’ expected earnings of $ 2.17.
The company’s sales in the world jumped by 11.8% thanks to an increase in markets such as France and the United Kingdom. In the US, sales in chain stores rose by 3.5%.
The company reported a decline in net income of $ 1.1 billion ($ 1.48 per share) in the first quarter, compared to $ 1.54 billion ($ 2.05) in the same quarter last year. Although the increase (3.5%) in the company’s sales in the US showed a slowdown compared to previous quarters, a slowdown in growth was inevitable due to the good performance of the various chain competitors in the US. Another reason for encouraging results is the presentation of the increase in revenues despite the closure of branches in Russia as a result of the invasion of Ukraine and the closure in China, investors are confident that the damage in the sales line will come in the next quarterly report.
In its previous reports, the company reported revenues of about $ 6.01 billion, an increase of about 13% compared to the corresponding quarter last year, and below analysts’ expectations for revenues of $ 6.03 billion. Bottom line, the company reported net income of $ 1.64 billion ($ 2.18 per share), compared to $ 1.38 billion ($ 1.84 per share) in the same quarter last year.
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