Search Site

Trends banner

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

McDonald Q4 profit up

McDonald's had its strongest comparable sales growth in its home market of the United States. (AFP)
  • Profits in the quarter grew seven percent to $2.0 billion, while revenues increased eight percent to $6.4 billion.
  • Global comparable sales grew 3.4 percent in fourth quarter, down from 8.8 percent in the third quarter and below the annual average

New York, US – McDonald’s reported higher quarterly profits on Monday, although comparable sales growth slowed as it cited a blow from war in the Middle East.

The big restaurant company, which has enjoyed robust revenues as inflation drove customers to the chain, still achieved sales increases, but not as big as inflation has moderated.

Global comparable sales grew 3.4 percent in fourth quarter, down from 8.8 percent in the third quarter and below the annual average.

“Our global comparable sales growth of nine percent for the year is a testament to the tremendous dedication of the entire McDonald’s System,” said Chief Executive Chris Kempczinski.

“We remain confident in the resilience of our business amid macro challenges that will persist in 2024,” he added.

Profits in the quarter grew seven percent to $2.0 billion, while revenues increased eight percent to $6.4 billion.

McDonald’s had its strongest comparable sales growth in its home market of the United States, where it benefited from “strategic menu price increases.”

Stronger international markets included Britain, Germany and Canada, while it suffered negative comparable sales in France.

McDonald’s also cited war in the Middle East as a drag. Most of the company’s restaurants in the region are under a license arrangement.

McDonald’s “is monitoring the evolving situation, which it expects to continue to have a negative impact on systemwide sales and revenue as long as the war continues,” the company said in a securities filing.