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McDonald’s beats Wall Street’s forecast

by LLB Reporter
29th Jan 20 1:21 pm

McDonald’s ended 2019 on a high as the burger chain said fourth quarter net income was up 11% to $1.6bn or $2.08 a share.

With the exclusion of one-time items such as tax benefits the global burger chain earned $1.97 a share, beating Wall Street’s prediction forecast of $1.96, according to FactSet.

Revenue in the fourth quarter was up by 4% to $5.3bn in line with estimates, while worldwide sales soared 5.9% beating analysts’ expectations.

Early this week McDonald’s signed a deal to deliver food with Just Eat across the UK.

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