McDonald's posts earnings miss as consumers tighten wallets
McDonald's (MCD) reported second quarter results that fell short of analyst expectations on both the top and bottom lines. Adjusted earnings of $2.97 per share missed expectations of $3.07, and revenue was $6.49 billion versus an estimated $6.63 billion. Same-store sales was also a miss, -1.0% versus the expected +0.84%. In the earnings release, Chairman and CEO Chris Kempczinski notes that "consumers are more discriminating with their spend."
Yahoo Finance senior reporter Brooke DiPalma breaks down the fast-food giant's Q2 report.
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This post was written by Stephanie Mikulich.