Investing.com - McDonald’s reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
McDonald’s announced earnings per share of $1.97 on revenue of $5.35B. Analysts polled by Investing.com anticipated EPS of $1.96 on revenue of $5.3B. That with comparison to EPS of $1.97 on revenue of $5.16B in the same period a year before. McDonald’s had reported EPS of $2.11 on revenue of $5.43B in the previous quarter. Analysts are expecting EPS of $1.9 and revenue of $5.08B in the upcoming quarter.
McDonald’s (NYSE:MCD) shares are up 6% from the beginning of the year and are trading at $210.39 , still down 5.20% from its 52 week high of $221.93 set on August 9, 2019. They are outperforming the Dow 30 which is up 0.29% year to date.
McDonald's is doing many things right to keep its growth momentum strong when compared to competitors. The fast-food chains recent earnings performance offers a solid evidence that the company’s technology-driven turnaround is moving ahead at a fast pace," Investing.com analyst Haris Anwar said.
McDonald’s follows other major Services sector earnings this month
McDonald’s's report follows an earnings beat by AT&T on Wednesday, who reported EPS of $0.89 on revenue of $46.82B, compared to forecasts EPS of $0.88 on revenue of $46.95B.
Comcast had beat expectations on January 23 with fourth quarter EPS of $0.79 on revenue of $28.4B, compared to forecast for EPS of $0.77 on revenue of $28.17B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar