.July 29, 2024 5:03:00 PM

McDonald’s (NYSE:MCD) reported a decline in second-quarter earnings and revenue, missing analyst expectations. Despite this, the stock gained over 4% intra-day. EPS was $2.80, below the $3.07 estimate, with revenue at $6.49 billion versus $6.62 billion expected. Global comparable sales dropped by 1.0%, with all segments showing negative results. Consolidated revenues saw a 1% increase in constant currencies compared to last year. CEO Chris Kempczinski attributed the mixed results to the “Accelerating the Arches” strategy, impacted by charges including non-cash impairment and restructuring charges.

In the U.S., McDonald’s saw a 0.7% sales decline, offset by menu price increases. International markets faced challenges, with France struggling and conflicts impacting the Middle East and China. Despite this, Latin America and Japan showed positive performance. McDonald’s did not provide specific guidance for upcoming quarters but emphasized its commitment to delivering value and accelerating growth initiatives.