McDonald’s experienced a decline in sales during the second quarter of this year, marking the first drop in nearly four years, according to its financial results statement released on Monday.
“Global comparable sales decreased by 1.0%, with negative comparable sales across all segments,” the statement noted, highlighting the first decline since the fourth quarter of 2020.
Sales in the US fell by 0.7%, while the internationally operated markets segment saw a decrease of 1.1%. Additionally, the international developmental licensed markets segment experienced a 1.3% decline.
Net income for the April-June period was $2.02 billion, down 12.5% from $2.31 billion in the same period last year. Revenue remained relatively stable at $6.49 billion, compared to nearly $6.5 billion during the previous year.
“The ongoing impact of the conflict in the Middle East and negative comparable sales in China outweighed positive results in Latin America and Japan,” the statement explained. Despite the challenges, the world’s largest fast-food restaurant chain saw its stock price rise by 3.8% on the New York Stock Exchange at 10:19 AM EDT.
