30/10/2023
In the stock markets, McDonald's stock rallied by 3% to $262.95 following the release of its impressive earnings report for the third quarter.
According to McDonald's CEO, Chris Kempczinski, the surge in the fast-food company's sales is due to a strategic increase in the prices of its burgers and digital marketing campaigns.
McDonald's recorded a 14% increment in revenue, amounting to $6.69 billion and $3.19 earnings per share. Wall Street analysts predict McDonald’s share price will reach $323.11 by October 2024.