Investing.com - McDonald’s reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
McDonald’s announced earnings per share of $2.28 on revenue of $5.67B. Analysts polled by Investing.com anticipated EPS of $2.17 on revenue of $5.57B.
McDonald’s shares are down 7% from the beginning of the year and are trading at $247.14 , down-from-52-week-high.They are outperforming the S&P 500 which is down 12.22% from the start of the year.
McDonald’s follows other major Consumer Discretionary sector earnings this month
McDonald’s's report follows an earnings beat by Tesla on Wednesday, April 20, 2022, who reported EPS of $3.22 on revenue of $18.76B, compared to forecasts EPS of $2.26 on revenue of $17.87B.
Ford Motor had beat expectations on Wednesday with first quarter EPS of $0.38 on revenue of $34.48B, compared to forecast for EPS of $0.3798 on revenue of $34.53B.
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