McDonald’s and Halliburton released their latest earnings reports before opening bell this morning. McDonald’s posted earnings of $1.44 per share on $6.03 billion in sales. Analysts had been expecting the fast food giant to report $1.41 per share in earnings and $6 billion in revenue. In the previous year’s fourth quarter, the company posted $1.31 per share in earnings and $6.34 billion in revenue.
Halliburton reported 4 cents per share in adjusted earnings and $4.02 billion in revenue. Analysts had been expecting adjusted earnings of 2 cents per share and $4.1 billion in revenue. In the previous year’s fourth quarter, the oil services firm reported $5.08 billion in revenue.
McDonald’s shares fall despite same store sales beat
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McDonald’s said same store sales grew 2.7%, coming out greatly ahead of the consensus of 1.3% growth. U.S. same store sales declined 1.3%, which was still slightly better than the consensus of a 1.4% decline year over year. International lead same store sales grew 2.8%, beating the consensus of 2.4% growth. High growth same store sales grew 4.7%. Analysts were looking for only 2.3% growth.
“We applied the necessary rigour and discipline to strengthen the Company and our financial performance,” McDonald’s President and CEO Steve Easterbrook said in a statement. “Our efforts yielded a more streamlined and focused organisation that generated solid fourth quarter and full year results, including our strongest annual global comparable sales growth since 2011 along with record franchisee cash flows in many of our major markets.”
Shares of McDonald’s edged downward by as much as 0.13% to $122.10 in premarket trading this morning.
Halliburton’s per-share losses widen
Halliburton’s GAAP losses amounted to 17 cents per share from 3 cents per share in the same quarter a year ago. Completion and production revenue came in at $2.27 billion, roughly in line with the consensus of $2.3 billion. In the year-ago quarter, the company reported $2.83 billion in completion and production revenue. Drilling and evaluation revenue fell to $1.75 billion from $2.25 billion in the previous year’s fourth quarter. Analysts were looking for $1.79 billion.
Shares of Halliburton edged lower in premarket trading, falling by as much as 0.8% to $56 per share.