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McDonald’s ends 2021 strong, but rising costs ding profit

KVIA

By DEE-ANN DURBIN
AP Business Writer

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.

Article Topic Follows: AP National Business

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