The Strategist

McDonald's recovers revenue in Q3


11/10/2020 - 03:12



On Monday, McDonald`s presented its reporting for the third quarter. The corporation's revenues decreased by 2% compared to the same period in 2019, to $5.4 billion.



Stephen Craven
Stephen Craven
At the same time, the figures showed a recovery from the previous quarter, when revenues fell by 30 per cent due to lockdown measures being introduced in different countries. 

The company's net profit grew by 10% to $1.8 billion.

The results were better than those given by analysts surveyed by Refinitiv, who projected earnings per share of $1.9; in the end, the figure was $2.2.

In the United States, McDonald's managed to even increase sales: comparable sales increased by 4.6% compared to last year, which was helped by an increase in orders and home delivery. 

At the same time, comparable sales worldwide fell by 2.2%. Next year, McDonald's plans to include new sandwiches in its menu, including a completely new McPlant, a line of burgers and other dishes for vegetarians. 

In addition, the company is going to launch a customer loyalty programme and open several cafes that work exclusively for take-out and delivery.

source: reuters.com




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