(Photo by Joe Kovacs)
(FOX BUSINESS) – McDonald’s says inflationary pressures will stick around in 2022 after profits and sales fell short of estimates.
In the U.S., the Golden Arches burger chain reported that same-store sales – or restaurants open at least a year – rose 7.5% from October to December. For the full year, same-store sales notched 13.8%, which marked "the highest U.S. annual comparable sales ever reported," McDonald's announced in its earnings release Thursday.
Still, adjusted earnings of $2.23 per share were 11 cents short of Wall Street expectations, while revenue rose 13% to $6.01 billion for the last three months of the year, which was also just shy of Wall Street expectations, according to a survey of industry analysts by FactSet, with sales crimped by coronavirus restrictions in Australia and China. For the full year, revenue increased 21% to $23.2 billion.
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