McDonald’s Reports Adjusted Earnings Per Share of $2.37

McDonald’s, the fast-food company, reported adjusted earnings per share of $2.37, missing a forecast of $2.11 by Refinitiv in its fiscal third quarter.

On Wednesday, July 28, the company added adjusted revenue of $5.89 billion, versus the $5.6 billion forecasts.

The fast-food giant reported that its second-quarter net income was $2.22 billion, or $2.95 per share, up from $483.8 million, or 65 cents per share, a year earlier.

Excluding strategic gains and UK income tax benefits, McDonald’s earned $2.37 per share, beating the $2.11 per share forecast by analysts polled by Refinitiv.

Net sales rose 57% to $5.89 billion, beating expectations of $5.6 billion, and global store sales jumped 40.5% year over year and 6.9% year over year.

McDonald’s adjusted earnings per share were $1.92 in the first quarter, versus expectations of 1.81, while revenue was $5.12 billion versus expectations of $5.03 billion.