McDonald’s same-store sales are up thanks in part to the company raising its prices and value items, according to a CNBC report. Sales jumped 4.7%, the company said Tuesday, with global same-store sales rising 9.7% in the quarter thanks in part to international sales.
CEO Chris Kempczinski said the road has not been easy as inflation and the war in Ukraine weighed heavily on its quarterly results. The brand’s shares were flat.
Here’s what the company reported compared with what Wall Street was expecting:
- Earnings per share: $2.55 adjusted vs. $2.47 expected.
- Revenue: $5.72 billion vs. $5.81 billion expected.
The company reported second quarter net income of $1.19 billion, down from $2.22 billion in 2021. Due to the sale of its Russian stores, the company reported a $1.2 billion charge. Net sales fell 3% to $5.72 billion.
