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McDonald Q3 Profits Miss Expectations, Stocks Change



McDonald's PLT burger with a pastry over vegetable-based meat at one of 28 test restaurants in London, Ontario, Canada. REUTERS / Moe Doiron

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "McDonald's ( MCD ) missed expectations for the top and bottom rows in the third quarter, the company reported on Tuesday, with results hit by less-than-expected domestic comparable sales amid increasing competition in the fast food space. "data-reactid =" 23 "> McDonald & # 39; s (MCD) missed expectations in the top and bottom quarters in the third quarter, the company reported on Tuesday, with results less than expected

After the data was published, the company's shares fell nearly 4% in pre-market trading.

<p class = "canvas-atom canvas- text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Here are the numbers for & nbsp; McDonald's Third Quarter, & nbsp; vs. Bloomberg estimates: "data-reactid =" 25 "> Here are the McDonald's third quarter figures versus Bloomberg estimates:

  • Revenue: $ 5.43 billion vs. 5 , $ 49 billion expected

  • Share earnings: $ 2.11 against $ 2.21 expected

  • Same-store sales: + 4.8% versus + 5.2% expected [19659010] International same-store sales: + 5.9% vs + 5.7% expected

Despite missing sales growth in the same stores in the country, McDonald's performed better than expected about sales growth of the same store abroad.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" Our third-quarter results were strong and the broad momentum continued with the 17th consecutive quarter of global comparative growth, "McDonald CEO Steve Eastbrook & nbsp; "Globally, our customers are rewarding our commitment to running better restaurants and to implementing our speed growth plan by visiting more often." "Data-reactid =" 32 ">" Introducing us to the third quarter was strong and their wide-ranging dynamics continued with our 17th consecutive quarter of global comparative sales growth, "McDonald's CEO Steve Easterbrook said in a statement." Globally, our customers are rewarding our commitment to managing restaurants better anti and implement our speed growth plan by visiting more often. "

<p class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm " type = "text" content = "Competition in the fast food industry has been high since companies like Wendy & # 39; s ( WEN ) announced last month that & nbsp; will make another attempt to join a select group of fast food restaurants serving breakfast . Wendy says it will hire an additional 20,000 workers by early 2020 "data-reactid =" 33 "> Competition in the fast food industry has been high since companies like Wendy (WEN) announced last month that it would do more an attempt to join a select group of fast food restaurants, Wendy, said it would hire an additional 20,000 workers by early 2020.

While breakfast is the most lucrative day for fast food restaurants , it is also one of the most challenging.

canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" To dull the mounting challenges, McDonald's announced new partnerships with third-party aggregators in its third quarter, increasing its availability in food delivery applications. About 8,000 McDonald's stores will use both DoorDash and Uber Eats ( UBER ). McDonald's will ship to third countries in 10,000 of its 14,000 stores in the US. "data-reactid =" 35 "> To quell the growing challenges, McDonald's announced new partnerships with third-party aggregators in the third quarter, increasing its availability in food delivery applications. About 8,000 McDonald's stores will use DoorDash and Uber Eats (UBER). McDonald's will have third-party delivery in 10,000 of its 14,000 US stores.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Following the recent shelling of meat plants in the US following the explosive IPO beyond Beat Meat ( BYND ), McDonald & # 39; s has announced that & nbsp ; will try beyond Meat & nbsp; burgers at 28 Canadian stores in September. "data-reactid =" 36 "> Following the recent vegetable supermoon in the US following the explosive IPO of Beyond Meat (BYND) in early May, McDonald & # 39; s announced that it will be testing beyond meat burgers at 28 Canadian stores in September.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In addition, McDonald's is aggressively investing in the technology of developing your business this year. March & nbsp; The burger giant bought Dynamic Yield for $ 300 million its biggest acquisition in more than 20 years. "data-reactid =" 37 "> In addition, McDonald's is aggressively investing in technology to promote its business this year, and in March the burger giant bought Dynamic Yield for $ 300 million, its biggest acquisition in more than 20 years.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Investing in Dynamic Yield will help McDonald & # 39; s to create a custom menu for customer management for its customers for an enhanced ordering experience. Then in September, McDonald announced that & nbsp; this will be an early-stage acquisition and basic technology company Apprente . The purchase was another attempt to use technology to create a better customer experience. Even customers will soon be able to move to the device and speak with a voice-powered machine to place orders. "data-reactid =" 38 "> The Dynamic Yield investment will help McDonald's create a custom menu for driving through its customers for an enhanced bespoke experience, and then in September, McDonald's announced it will also buy Apprente-based technology company at an early stage. The purchase was another attempt to use technology to create better customer drive, and customers will soon be able to get up to the drive and speak to a voice-powered machine to place orders.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb ( 0) – sm Mt (0.8em) – sm "type =" text "content =" McDonald's shares grew by 20% in 2019 and were approximately in line with the S & AP 500 & # 39; s ( ^ GSPC ) 21% profit during the same time period. "data-reactid =" 39 "> McDonald's shares grew 20% in 2019 and were approximately in line with the 21% gain of the S&P 500 (^ GSPC) over the same period.

The management conference will begin. at 11 am ET.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " the publication is developing. Please check back for updates. "data-reactid =" 41 "> This post is being developed. Please check back for updates.

<p class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" "data-reactid =" 42 ">

<p class =" canvas-atom canvas -text Mb (1.0em) Mb (0) – sm Mt (0.8em) –sm "type =" text "content =" Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung . "data-reactid =" 43 "> Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung .

<p class =" canvas-atom canvas- text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" More from Heidi: "data-reactid =" 44 "> More from Heidi:

<p class = "canvas-atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read the latest Yahoo Finance Stock & Stock News "data-reactid =" 49 "> Read the latest Yahoo Finance Stock & Stock News

<p class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Follow Yahoo Finance on Twitter Facebook Instagram Flipboard LinkedIn [19659017] and reddit . "data-reactid =" 50 "> Follow Yahoo Finance on Twitter Facebook Instagram Flipboard [19659036] LinkedIn and reddit .

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