McDonald’s customers may be thinking twice before grabbing a Big Mac and fries.
The chain posted Q1 results that missed revenue growth and same-store sales estimates across its segments, while its earnings also came below expectations.
“As consumers are more discriminating with every dollar that they spend, we will continue to earn their visits,” CEO Chris Kempczinski said in a release.
The fast food giant posted revenue of $6.17 billion, up 4% year over year and slightly higher than Wall Street estimates of $6.15 billion. Adjusted earnings per share is up 2% to $2.70, below expectations of $2.72.
Global same-store sales growth was 1.9% year over year, compared to the 2.33% jump that Wall Street was hoping for.
That’s also far lower than the 12.6% increase seen in 2023 Q1.
