McDonald's third-quarter earnings beat Wall Street estimates on Monday when the fast food behemoth reported a 14% increase in revenue, to $6.69 billion.
Christopher Sadowsk
Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- McDonald’s revenue soars as it hikes menu prices: ‘$18 Big Macs’
- The Golden Arches brought in a total of $6.69 billion in revenue for the three-month period ended Sept. 30 — beating expectations of $6.58 billion, according to Refinitiv analysts.
- Meanwhile, that same Big Mac combo will run hungry patrons $13.69 at a McDonald’s in Times Square.
- One branch in Darien, Conn., charged as much as $18 for a Big Mac combo meal, which includes medium fries and a medium soft drink.
- Shares of McDonald’s closed up 1.7% to $260.15.
- Meanwhile, many consumers have said that fast food has already gotten so expensive, it’s no longer worth it.
- “A ‘value meal’ at McDonalds now costs just as much as a meal at a lot of sit-down restaurants like Applebee’s,” one user claimed.
- Last month, the Chicago-based fast food giant announced that franchisees who open new outposts in 2024 will have to pay an increased royalty fee of 5% — the first time in nearly three decades that McDonald’s increased the fee.
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