McDonald's misses Q2 estimates across the board, as consumers pull back on dining out

Category: Business

McDonald's Q2 earnings fell short of Wall Street expectations, with revenue at $6.49 billion and adjusted earnings of $2.97. Same-store sales declined globally for the first time since Q4 2020, driven by decreased foot traffic and challenging macro conditions. The company is focusing on value offerings, including a $5 meal deal, to attract customers amidst rising prices. Analysts express concerns about the effectiveness of these initiatives in boosting sales growth in the near term.

Keywords: McDonald's, Q2 earnings, fast food sales

Source: Yahoo Finance

Update At: 7/29/2024

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