McDonald's (MCD) Gets 'McHit' as Q3 Results Miss Mark, Q4 Comps Already Negative
Sales in the quarter remained relatively flat at $7.15 billion, versus $7.17 billion in the same period last year. Net income slipped 3 percent to $1.46 billion, or $1.43 per share. Notably, EPS included negative impairment of 8 cents from foreign exchange translation.
Overall, the Street was expecting revs $7.15 billion and EPS at $1.48.
Global comparable-store sales rose 1.9 percent in the quarter, light compared with consensus expectations of a 2 percent gain.
Notably, CEO Don Thompson commented that McDonald's fourth-quarter comps were currently trending negative.
Shares are down nearly 3 percent in early trading.