McDonald's Shares Rise Following Q3 Earnings Beat and Dividend Increase
McDonald's (MCD) shares rose over 6% on Wednesday after the company reported third-quarter earnings that exceeded Wall Street expectations. Adjusted earnings per share reached $3.57, surpassing the estimated $3.38, while adjusted operating income grew by 8%. The company's global systemwide sales increased 4% to over $38 billion, supported by new store openings and international growth. Despite facing challenges with slowing consumer traffic in the U.S., McDonald's value-focused strategy appears to be gaining momentum. CEO Chris Kempczinski noted that U.S. comparable sales turned positive in September after a sluggish start to the quarter. Additionally, the company announced its 50th consecutive year of dividend increases, raising the quarterly payout by 4% to $1.93 per share.
Tickers: $MCD
Topics: comparable sales consumer spending dividend increase earnings beat
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