Customers spending more at McDonald's | www.WDIO.com

Customers spending more at McDonald's

Customers are spending more at U.S. McDonald's locations. Customers are spending more at U.S. McDonald's locations. |  Photo: Max Pixel

DEE-ANN DURBIN, AP Business Writer
Updated: January 27, 2022 04:31 PM
Created: January 27, 2022 04:26 PM

McDonald's ended 2021 on a high note, with U.S. customers spending more and fewer restaurant closures in Europe.

The burger giant said Thursday that global same-store sales rose 12.3% for the quarter. Analysts polled by FactSet were expecting a 10.5% increase.

But McDonald's was still stung by rising prices and higher labor costs, which cut into profits. The Chicago company reported adjusted earnings of $2.23 per share, 11 cents short of Wall Street expectations.

McDonald's says it expects higher costs for food and paper to persist in the first half of this year.

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DEE-ANN DURBIN, AP Business Writer

Copyright 2022 The Associated Press. All rights reserved.

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