McDonald’s Corporation Top Estimates, Moody’s Corporation Also Beats

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McDonald’s Corporation Top Estimates, Moody’s Corporation Also Beats

McDonald’s and Moody’s released their latest earnings reports before opening bell this morning. McDonald’s posted $1.62 per share in earnings, excluding strategic charges, on $6.4 billion in revenue. Analysts had been expecting $1.48 per share in earnings on $6.3 billion in sales. In last year’s third quarter, the fast food chain posted $1.40 per share in earnings on $6.6 billion in revenue.

Moody’s reported non-GAAP earnings of $1.34 per share, marking a 21% year over year increase, on $917.1 million in revenue. Analysts had been expecting earnings of $1.18 per share and $894.05 million in revenue. In last year’s third quarter, the credit ratings firm reported $834.9 million in revenue.

McDonald’s same store sales rise

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Including strategic charges, McDonald’s said its earnings amounted to $1.50 per share. Global same store sales grew 3.5% year over year, smashing the consensus of 1.8% growth in comparable sales. U.S. comparable sales grew 1.3% year over year, also beating the consensus for 1.2% growth. Management cited the McPick 2 platform as the driver of U.S. growth. Consolidated revenues declined 3% due to refranchising impacts.

“Looking ahead, we are focused on growing global comparable sales and serving more customers while being mindful of the near-term challenges in several markets,” McDonald’s President and CEO Steve Easterbrook said in a statement. “We remain comm