Posted: Tuesday, October 21, 2014 11:14 AM ET
By: Julian Close
McDonald's (MCD) reported its third quarter earnings this morning, and though things were very bad, the Street had already been warned to expect as much, as we reported back in September. Revenue came in at $6.99 billion, where analysts were hoping for $7.23 billion. That's a disastrous 30% year-over-year fall. Net Income was a somewhat happier tale, however, as the company post earnings of $1.52 per share on a cost adjusted basis, while the Street had only been expecting $1.37.
The chain is facing a several hurdles simultaneously.... Read More