American multinational McDonald’s has announced that it has closed the second quarter of 2022 with higher than expected comparative sales growth in the United States, in the wake of higher prices of products sold, supported by runaway inflation.
The quarter ended with net income of $ 1.19 billion, or $ 1.60 per share, down from $ 2.22 billion, or $ 2.95 per share, for the same period last year.
McDonald’s faced a $ 1.2 billion burden related to the decision to dispose of its business in Russia following the Kremlin invasion of Ukraine.
On an adjusted basis, earnings per share were $ 2.55, better than the expected $ 2.47.
On the other hand, it disappointed revenue, which came in at $ 5.72 billion on a net basis, compared to the $ 5.81 billion estimated by the consensus of analysts interviewed by Refinitiv, down 3%, partly due to the closure of restaurants in Russia. and in Ukraine.
Globally, comparative sales rose 9.7% in the second quarter on the back of solid international sales.
It should be noted that restaurants in Russia were excluded from the calculation of sales on a comparative basis, while Ukrainian restaurants were included.
US comparative sales grew by 3.7%, more than the + 2.8% expected by StreetAccount analysts. The stock in the pre-market is up by 0.85%.