Monday 08 August 2022

McDonald’s beats on earnings after slashing prices on soda and coffee

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NEW YORK – McDonald’s has reported its best showing for global comparable sales in five years, sending its shares to a record intraday high on Tuesday.

Investors were impressed with the company’s progress ramping up mobile order and mobile pay at more restaurants, and with its expansion of a delivery service, which has been launched at 4,000 restaurants in the US and other markets.

Results in the key US market were boosted by its discounted offering of any size of soft drink for $1 and McCafe beverages for $2, as well as new sandwiches, according to the earnings statement.

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