: McDonald’s profit beats analyst expectations, stock rises

McDonald’s Corp. MCD stock was up 2.2% in premarket trades Thursday after the fast food giant’s second-quarter profit nearly doubled and beat analyst forecasts. The Chicago-based company said its profit for the three months ended June 30 jumped to $2.31 billion, or $3.15 a share, from $1.19 billion, or $1.60 a share in the year-ago quarter. Adjusted profit rose to $3.17 a share from $2.55 a share, ahead of the analyst estimate of $2.78 a share. Revenue increased by 14% to $6.5 billion, ahead of the analyst forecast of $6.3 billion. “While global macroeconomic challenges persist, we continue to invest in our growth drivers and our brand to meet the customer needs of tomorrow,” said CEO Chris Kempczinski.

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