McDonald’s Q2 FY 17 and Eli Lilly Q2 FY17 earnings were reported before opening bell this morning. McDonald’s posted earnings of $1.70 per share on $6.05 billion in revenue, compared to the consensus estimates of $1.62 per share and $5.96 billion in revenue. In last year’s second quarter, the fast food chain reported $1.25 per share in earnings on $6.27 billion in sales.
Eli Lilly reported adjusted earnings of $1.11 per share on $5.82 billion in revenue, compared to the analyst estimates of $1.05 per share and $5.59 billion in revenue. In last year’s second quarter, the drug maker reported adjusted earnings of 86 cents per share on $5.4 billion in revenue.
McDonald’s Q2 FY17 earnings
McDonald’s Q2 FY17 earnings growth was driven by a 6.6% increase in global comparable sales as guest counts grew in all regions. Its earnings result for this year’s second quarter included strategic charges of 3 cents per share, while last year’s second quarter included 20 cents per share in strategic charges. U.S. comparable store sales grew 3.9% year over year, driven by drink promotions and strong sales of its Signature Crafted premium sandwiches.
The fast food chain explained that impacts from its strategic refranchising initiative caused the decline in its revenue. Sales systemwide grew 8% in constant currency as comparable sales were strong and the company expanded its restaurant.
After McDonald’s Q2 FY17 earnings were reported, the fast food chain’s stock rose by as much as 2.94% to $156.31 in premarket trading.
Eli Lilly Q2 FY17 earnings
Eli Lilly Q2 FY17 earnings were 95 cents per share on a GAAP basis, compared to 71 cents per share a year ago. The drug maker said its 8% year-over-year revenue growth was driven by volume growth in its new pharmaceutical products, especially the Type 2 diabetes treatment Trulicity and the plaque psoriasis drug Taltz. It continues to build upon its cancer drug portfolio to add to its drugs Cyramza and Lartruvo.
Eli Lilly also cut its guidance for full-year net earnings to between $2.51 and $2.61 per share, although it raised its adjusted earnings outlook to between $4.10 and $4.20 per share.
After the Eli Lilly Q2 FY17 earnings report, the company’s shares slumped in premarket trades, falling by as much as 1.2% to $83.72.