9:17 am McDonald's Golden Arches Tarnished by Weak Operating Results
In reporting a non-GAAP profit of $1.51 per diluted share, McDonald's (MCD 91.59) handily beat analysts' earnings expectations, yet don't let that headline fool you. The overall report from McDonald's and its guidance was quite disappointing.
Revenue declined 4.6% to $6.99 billion (below analysts' expectations), consolidated operating income was down 14%, and earnings per share were basically unchanged from a year ago.
Global comparable sales decreased 3.3% on negative guest traffic in all major segments and …More