McDonald’s stock spikes to new record after blockbuster Q1 earnings

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Oops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.Yahoo FinanceMcDonald’s stock spikes to new record after blockbuster Q1 earningsBrooke DiPalma·Associate Producer April 30, 2021, 8:08 AM·3 min readOops!Something went wrong.Please try again later.Oops!Something went wrong.Please try again later.

McDonald’s (MCD) hit a record high on Friday, fueled by a blockbuster fiscal first-quarter earnings report that topped Wall Street’s expectations. 

In intraday trading that saw stocks retreat despite blowout earnings from tech bellwethers, the Golden Arches vaulted as high as $236.10 per share before paring those gains. Investors cheered McDonald’s quarterly results, which saw the fast food giant’s sales return to pre-pandemic levels.

Same-store sales in the U.S. jumped by 13.6%, while overseas saw a comparatively softer 7.5% bounce, with lockdowns still in effect in other countries.

Meanwhile, both earnings per share (EPS) and revenue topped market expectations.

Peter Saleh of BTIG, who has a “Buy” rating on shares of McDonald’s and price target of $245, told Yahoo Finance that in the U.S.,...read more...