“McDonald’s revenue falls 30% despite progress at U.S. restaurants”
July 28, 2020
“Shares of the company fell nearly 2% in early trading Tuesday.
Still, McDonald’s said it expects to accelerate U.S. restaurant closures this year and permanently shutter about 200 locations. More than half of those are lower sales volume locations inside Walmart stores. The company is forecasting 350 net new locations in 2020…
- Earnings per share: 66 cents, adjusted, vs. 74 cents expected
- Revenue: $3.77 billion vs. $3.68 billion expected
The fast-food chain reported second-quarter net income of $483.8 million, or 65 cents per share, down from $1.52 billion, or $1.97 per share, a year earlier. Expenses related to the coronavirus, including $200 million on marketing support in the U.S. and international operated markets, hurt profits…”
https://www.cnbc.com/2020/07/28/mcdonalds-mcd-q2-2020-earnings.html