McDonald's reported mixed th♏ird-quarter results Tuesday, with revenue and adjusted earnings topping analysts' estimates but net income and sa🌺me-store sales coming in worse than expected.
The fast-food giant registered $6.87 billion in revenue, up from $6.69 billion last year and the $6.81 billion 澳洲幸运5官方开奖结果体彩网:analysts expected, according to consensus estimates compiled by Visible Alpha. McDonald's also posted $2.26 billion in 澳洲幸运5官方开奖结果体彩网:net income, down from last year's $2.32 billion and the $2.30 billion analysts projected.
After stripping out nearly $70 million in charges, McDonald's adjusted net income of $2.32 billion narrowly beat estimates.
The chain also reported a 1.5% decline in 澳洲幸运5官方开奖结果体彩网:same-store sales, with a small bump to U.S. sales and declines internationally, after reporting a 1% drop 澳洲幸运5官方开奖结果体彩网:in the second quarter, when executives said higher prices were driving 澳洲幸运5官方开奖结果体彩网:lower-income customers away. Analysts expected a decline of about 0.6% in c♏omparable sales, with nearly flat sales in the U.S. and lower sales internationally.
The third quarter also saw McDonald's 澳洲幸运5官方开奖结果体彩网:announce the extension of its $5 Meal Deal promotion into December rather than its originally planned summer run. The company 澳洲幸运5官方开奖结果体彩网:said last month that the value meal had been successful in driving sales, especially in bringing lower-income co♏nsumers ba🦂ck to McDonald's.
Shares had fallen in premarket trading after thꦅe earnings were released but were little change in late-morning trading.
CEO Says E. Coli Outbreak 'Behind Us'
Company leadership didn't mention 澳洲幸运5官方开奖结果体彩网:last week's E. coli outbreak in the release, which the Centers for Disease Control and Prevention (CDC) said was linked to 澳洲幸运5官方开奖结果体彩网:McDonald's Quarter Pounders. Asked about the outbreak on the company's earnings call, 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Chris Kempczinski said, "We view it as behind us," accordin💖g to a transcript provided by AlphaSense.
Over the weekend, the 澳洲幸运5官方开奖结果体彩网:company said testing had confirmed tha🌳t its beef pattie🌃s were not the source of the outbreak, giving it confidence that it could bring the burgers back to the menu across some 900 restaurants in a dozen affected states, without the slivered onions that are believed to be the cause.
The fast-food giant's stock is essentially flat this year after news of the E. coli outbreak sent it lower last week.
UPDATE—This story has been updated with CEO comments and the latest share price information.