McDonald’s (NYSE:MCD) shares are in the green today after the global fast-food giant posted better-than-anticipated second-quarter numbers with impressive global comparables.
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Revenue rose 13.6% year-over-year to $6.5 billion, outperforming estimates by $210 million. EPS at $3.17 too landed well past expectations by $0.39. Further, global comparable sales rose 11.7% with double-digit comparable gains across all segments.
Additionally, while systemwide sales surged by 14%, the company’s consolidated operating income shot up by a massive 81% during the quarter. Importantly, U.S. comparable sales tracked 10.3% higher on the back of menu price increases and higher footfalls.
Overall, the Street has a $323.79 consensus price target on McDonald’s alongside a Strong Buy consensus rating. This points to an 11% potential upside in the stock on top of a nearly 13.5% price gain over the past 52 weeks.
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