Investing.com - McDonald’s (NYSE:MCD) reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
McDonald’s announced earnings per share of $1.72 on revenue of $4.92B. Analysts polled by Investing.com anticipated EPS of $1.78 on revenue of $4.94B. That with comparison to EPS of $1.72 on revenue of $4.96B in the same period a year before.McDonald’s had reported EPS of $1.97 on revenue of $5.35B in the previous quarter.Analysts are expecting EPS of $1.75 and revenue of $4.95B in the upcoming quarter.
McDonald’s shares are down 11% from the beginning of the year and are trading at $175.87 , down-from-52-week-high.They are outperforming the S&P 500 which is down 16.21% year to date.
McDonald’s shares gained 0.26% in intra-day trade after the report.
McDonald’s follows other major Services sector earnings this month
McDonald’s's report follows an earnings beat by Pinduoduo on Wednesday, March 11, 2020, who reported EPS of $-1.52 on revenue of $10.79B, compared to forecasts EPS of $-1.88 on revenue of $11.04B.
Dollar General had beat expectations on Thursday, March 12, 2020 with fourth quarter EPS of $2.1 on revenue of $7.16B, compared to forecast for EPS of $2.01 on revenue of $7.15B.
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