McDonald’s Posts Profit Miss, Shares Drop

McDonald’s posted earnings and for the first time in two years the fast food giant has missed Wall Street’s estimates for the first time in two years. News of the loss dropped Ronald and company’s stock by 3%.

McDonald’s spent a ton of money trying to revamping restaurants with digital kiosks, mobile ordering and more to attract a faster-moving customer, but that investment led to a 2% rise in operating costs of about $3 billion.

Experts says McDonald’s missed their money mark by moving slowly as other competitors starting adding more value meals and a variety of items on their menus. One analyst believes that Wendy’s and Burger King had a better third quarter than McDonald’s.

Source: https://www.reuters.com/article/us-mcdonald-s-corp-results-idUSKBN1X11EL

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