McDonald’s reports $5.43bn revenues in Q3 2019

23rd October 2019 (Last Updated October 23rd, 2019 15:14)

Fast-food chain McDonald’s has reported $5.43bn in revenues for the third quarter (Q3) of the year ending 30 September 2019, compared with $5.37bn for the same period last year.

McDonald’s reports $5.43bn revenues in Q3 2019
McDonald’s reported $5.43bn in revenues for third quarter 2019. Credit: McDonald’s.

Fast-food chain McDonald’s has reported $5.43bn in revenue for the third-quarter (Q3) of the year ending 30 September 2019, compared with $5.37bn for the same period last year.

Global comparable sales increased by 5.9% and system-wide sales increased by 7% in constant currencies for the quarter.

The fast-food company reported an operating income of $2.409bn, which was flat, compared to $2.417bn for the same period in the previous year.

Net income declined from $1.63bn last year to $1.60bn in the third quarter. Diluted earnings per share of the company was $2.11 for the quarter, flat when compared to $2.10 in the prior year.

In addition, the company has reported an 8% increase in its quarterly dividend to $1.25 per share beginning in the third quarter of 2019.

McDonald’s president and chief executive officer Steve Easterbrook said: “Our third quarter performance was strong, and broad-based momentum continued with our 17th consecutive quarter of global comparable sales growth.

“Globally, our customers are rewarding our commitment to running better restaurants and executing our Velocity Growth Plan by visiting more often.

“As we work to build an even better McDonald’s experience for customers by providing convenience on their terms, we continue to embrace the culture of innovation that helped launch our company over 60 years ago.”

Net income decreased 4% and diluted earnings per share decreased 1% for the nine months.

McDonald’s has more than 38,000 outlets in 100 countries, with around 93% of its restaurants owned and operated by independent local business people.