Investing.com - Fast food giant McDonald's Corporation (NYSE:MCD) reported lower-than-expected second quarter earnings and revenue figures on Tuesday, sending its shares lower in pre-market trade.
McDonald’s said earnings per share came in at $1.40 in the second quarter, missing expectations for earnings of $1.44 per share.
The company’s second quarter revenue totaled $7.18 billion, below expectations for revenue of $7.29 billion.
Global comparable sales were relatively flat, reflecting higher average check and negative guest traffic in all major segments
In the U.S., second quarter comparable sales decreased 1.5% while operating income rose 1%. In Europe, comparable sales declined 1.0% and operating income was flat for the second quarter.
" To reignite momentum over the next 18 months, we're focused on fortifying the foundational elements of our business by concentrating our efforts on compelling value, marketing and operations excellence to become a more relevant and trusted brand,” said McDonald's President and Chief Executive Officer Don Thompson.
Immediately after the earnings announcement, McDonald's (NYSE:MCD) shares fell 1.6% in trading prior to the opening bell.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow indicated a gain of 0.25% at the open, the S&P 500 pointed to a rise of 0.2%, while Nasdaq 100 tacked on 0.3%.