McDonald's Quarterly Profit Falls Short of Street Views

By Colin Kellaher

McDonald's posted first-quarter earnings that missed Wall Street's expectations, as consumers rein in their spending.

The Chicago fast-food giant on Tuesday reported adjusted earnings of $2.70 a share for the quarter, up from $2.63 a share a year earlier but shy of the $2.72 that analysts polled by FactSet, on average, were expecting.

Revenue rose 5% to $6.17 billion, just ahead of the $6.16 billion Wall Street was looking for.

Worldwide comparable sales rose 1.9%, below analysts' expectations for a rise of 2.1%, with U.S. comparable sales up 2.5%.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

04-30-24 0715ET