McDonald’s reported a decline in global sales in the second quarter of this year, marking the first drop in nearly four years, according to its financial results released on Monday.
“Global comparable sales decreased by 1.0%, with negative sales across all segments,” the statement noted, highlighting the first decline since the fourth quarter of 2020.
In the US, sales dropped by 0.7%, while internationally operated markets saw a 1.1% decline, and international developmental licensed markets fell by 1.3%.
Net income for the April-June period was $2.02 billion, a 12.5% decrease from $2.31 billion in the same period last year. Revenue remained relatively stable at $6.49 billion, slightly down from almost $6.5 billion.
“The ongoing impact of the war in the Middle East and negative sales in China outweighed positive sales in Latin America and Japan,” the statement explained.
Despite the sales decline, McDonald’s stock price rose by 3.8% on the New York Stock Exchange as of 10:19 a.m. EDT.
