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McDonald’s Corp on Tuesday said that it remains focused on strategy, after seeing net profit slip in the third quarter, while overall revenue increased.
For the third quarter ended September 30, the Chicago, Illinois-based fast food chain reported net profit of $2.26 billion, down 3% from $2.32 billion a year prior.
Diluted earnings per share were $3.13, down 1% from $3.17.
Revenue rose to $6.87 billion, up year-on-year from $6.69 billion the previous year. Within this, global comparable sales decreased 1.5%, while the international operated markets segment declined 2.1%.
Total operating costs and expenses were up 6% to $3.69 billion from $3.48 billion a year prior.
‘We will stay laser-focused on providing an unparalleled experience with simple, everyday value and affordability that our consumers can count on as they continue to be mindful about their spending’, said Chief Executive Officer Chris Kempczinski.
‘McDonald’s will continue to follow our Accelerating the Arches playbook to drive long-term growth globally and win in this environment.’
The firm declared a quarterly cash dividend, up 6% to $1.77 per share.
Shares in McDonald’s were down 2.1% at $290.69 each in the New York pre-market on Tuesday.
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