Courtesy of Benzinga.
McDonald’s Corporation (NYSE: MCD) reported first-quarter earnings of $1.23 per share Friday morning, beating the Street’s consensus by $0.07. Revenue of $5.9 billion also came in $80 million ahead of expectations.
Right after McDonald’s report was released, CNN Money digital correspondent Paul La Monica was on Benzinga’s PreMarket Prep show to discuss the restaurant’s (and other big companies’) results. After disappointing figures on Thursday afternoon, Friday morning saw “a little bit better” results. The expert classified General Electric Company (NYSE: GE)’s numbers as “mixed at best,” and Caterpillar Inc. (NYSE: CAT)’s as “not fantastic.”
However, McDonald’s results were different. With its new CEO Steve Easterbrook, the company has managed to make a big comeback, La Monica said, highlighting the strong same store sales growth delivered.
“This is a company that has been in fantastic turnaround mode,” he stated. “Steve Easterbrook really deserves a lot of credit. It’s only April 22, but if things keep going you’re talking about a potential candidate for CEO of the year.” After roughly one year serving as the company’s chief executive, a lot of the changes he implemented “seem to be resonating,” La Monica added.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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