McDonald’s stock fell marginally in premarket trade Monday as the world’s largest fast food restaurant failed earnings projections and, like Starbucks last week, blamed weaker sales on the Israel-Hamas war.
McDonald’s reported Q4\u2019s revenue of $6.41 billion, 7.5% higher than the $5.92 billion recorded in the same period previous year and slightly lower than analysts’ expectations of $6.45 billion.
Meanwhile, net income increased to $2 billion, or $2.80 per share, up from $1.9 billion the previous year but falling short of FactSet analysts’ forecasts of $2.83 per share.
Adjusted for $72 million in pre-tax costs for software write-offs and $66 million for the layoffs of hundreds of corporate personnel last year, diluted profits per share were $2.95.
The company pointed to the impact of the Israel-Gaza war for its .7% growth in the Middle East, far less than the 4.7% analysts forecasted.
McDonald\u2019s shares gained 12% in the year before Friday\u2019s close, ahead of the 9% increase of an S&P 500 restaurant subindex during the same period, the Wall Street Journal reported.
<\/p>\n","protected":false},"excerpt":{"rendered":"
McDonald’s stock fell marginally in premarket trade Monday as the world’s largest fast food restaurant failed earnings projections and, like Starbucks last week, blamed weaker sales on the Israel-Hamas war.McDonald’s reported Q4\u2019s revenue of $6.41 billion, 7.5% higher than the $5.92 billion recorded in the same period previous year and slightly lower than analysts’ expectations …<\/p>\n","protected":false},"author":13,"featured_media":48825,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7113,10591,7406,6994],"class_list":["post-96452","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-earnings","tag-gaza","tag-mcdonalds","tag-sales"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=96452"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96452\/revisions"}],"predecessor-version":[{"id":96457,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96452\/revisions\/96457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/48825"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=96452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=96452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=96452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}