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McDonald’s stock heads for 3rd straight record after earnings, sales rise above expectations

Clyde Edgerton by Clyde Edgerton
April 25, 2023
in Markets
McDonald’s stock heads for 3rd straight record after earnings, sales rise above expectations
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Shares of McDonald’s Corp. MCD rose 0.6% toward a record high in premarket trading Tuesday, after the fast-food giant reported first-quarter results that rose above expectations, helped by higher menu prices and increased traffic. Net income increased to $1.80 billion, or $2.45 a share, from $1.10 billion, or $1.48 a share, in the year-ago period. Adjusted earnings per share, which excluded restructuring charges, came in at $2.63, to beat the FactSet consensus of $2.33. Revenue grew 4.1% to $5.90 billion, above the FactSet consensus of $5.59 billion. Same-store sales jumped 12.6% to beat the FactSet consensus of 8.7%…



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