Biden’s America: McDonald’s Profit Soar As Food Prices Now Sky High
View Source | February 1, 2023 11:52 am
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- Higher menu prices and customer visits boosted McDonald’s Corp quarterly profit and sales above Wall Street estimates on Tuesday, but shares fell when the burger chain warned inflation will weigh on margins in 2023.
- Shares of the burger chain fell about 2.6% to $263.84 in U.S. trading, after gaining about 6% in the last 12 months.
- Investors are watching bellwethers like McDonald’s for any signs its customers are paring back spending. Consumer demand is key to determining whether the Federal Reserve’s monetary tightening will help cool the U.S. economy without causing a recession.
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