McDonald's sales surged 14% as virus restrictions eased

Posted 10/27/21

McDonald’s reported stronger-than-expected sales in the third quarter, boosted by larger orders and higher prices on the menu.

The company has had to raise prices like other major restaurant …

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.

For $5.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor

McDonald's sales surged 14% as virus restrictions eased

Posted

McDonald’s reported stronger-than-expected sales in the third quarter, boosted by larger orders and higher prices on the menu.

The company has had to raise prices like other major restaurant chains to cover rising costs of commodities and labor, but it may have dodged at least some of the most severe labor shortages that have dogged companies like Domino's.

Sales at stores open at least a year rose 12.7%, surpassing pre-pandemic levels and easily topping the 10% increase Wall Street had been expecting as coronavirus restrictions eased in most markets.

Revenue jumped 14% to $6.2 billion in the July-September period, the Chicago burger giant said Wednesday. That beat Wall Street’s forecast of $6 billion, according to analysts polled by FactSet.

McDonald’s net income rose 22% to $2.1 billion for the quarter. Per-share earnings of $2.86 also beat analysts’ forecast of $2.46.

Comments

No comments on this item Please log in to comment by clicking here