McDonald's stock posts earnings beat as U.S. traffic falls

McDonald's reported mixed third-quarter results on Wednesday, November 4, as weaker traffic at its U.S. restaurants weighed on domestic sales while international markets supported the group. The figures were reported by CNBC.

U.S. Traffic Remains the Pressure Point

Comparable sales at U.S. restaurants open for at least 13 months fell 0.2% in the quarter. The decline was narrower than the 0.5% decrease analysts had expected, but it still showed that the company has not fully restored traffic in its home market.

Chief Executive Chris Kempczinski said the company was encouraged by an improvement in U.S. performance as the quarter progressed after changes to its value strategy. McDonald's has increasingly used discounts to attract budget-conscious customers, making execution of those offers a central test for the business.

International Markets Offset Weakness

Global comparable sales increased 1.5%, ahead of the 1.3% analyst estimate. The international developmental licensed markets segment, which includes Japan and China, delivered 4.2% comparable-sales growth against expectations for 2.1%.

The international operated division, which includes markets such as Australia and Germany, posted 1.4% growth. That result was below the 2.1% forecast, with France identified as a weak spot. The geographic mix nevertheless helped offset the decline in U.S. comparable sales.

Earnings Beat Revenue Expectations

McDonald's reported adjusted earnings of 3.57 US dollars per share, above the 3.38 US dollars expected by analysts surveyed by LSEG. Revenue rose 1% from a year earlier to 7.16 billion US dollars, below the 7.29 billion US dollars consensus.

Fiscal third-quarter net income reached 2.49 billion US dollars, or 3.51 US dollars per share, compared with 2.28 billion US dollars, or 3.18 US dollars per share, a year earlier. The adjusted figure excludes restructuring charges and other items.

McDonald's stock traded at 238.60 euros on Lang & Schwarz at 13:12 CET on Wednesday, November 4, 2026.

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Further operating progress in U.S. traffic and value-offer execution will remain central to the investment case. More news and analyses on McDonald's stock.