McDonald’s profits hit by inflation, Middle East boycotts over Israel-Hamas war
NY Post
McDonald’s earnings fell short of expectations as spiking menu prices have begun to chase away inflation-battered, low-income families.
McDonald’s reported first-quarter net income of $1.93 billion, or $2.66 per share on Tuesday.
Excluding restructuring charges, the Golden Arches earned $2.70 per share. Though it was up from the year-ago period, it missed Wall Street’s $2.72-per-share expectations.
CEO Chris Kempczinski said on McDonald’s earnings call that “it is clear that broad-based consumer pressures persist around the world.”
“Consumers continue[d] to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending,” he added of McDonald’s recent struggle to get inflation-squeezed consumers to cough up as much as $18 for a Big Mac.
Kempczinski emphasized to shareholders Tuesday that the company must be “laser focused” on affordability to win back low-income consumers.
Dana Walden is unifying Disney’s film, television, streaming and gaming under one roof days before a new CEO takes the reins.
Nvidia said the revenue opportunity for its artificial intelligence chips may reach at least $1 trillion through 2027, as the company outlined a strategy to compete more aggressively in the fast-growing market for running AI systems in real time.
Saks Global — owner of luxury stores including Saks Fifth Avenue and Neiman Marcus — is cutting over 1,200 jobs as it shutters more than a dozen locations nationwide following its bankruptcy filing earlier this year.
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Amazon has been signaling that it wants a piece of the Saks empire — including possibly buying it outright — even as its prospects to break into the luxury market have been complicated by its controversial role in the retailer’s bankruptcy, The Post has learned.
The founder of a Vermont-based whiskey brand wants to give away a college campus that he bought during the pandemic — on the condition the new owner shares his vision for “the revival of our country and our civilization.”
WASHINGTON — Energy Secretary Chris Wright predicted that Americans will continue to experience the pinch in their wallets at the gas pump for the “next few weeks,” but he was hopeful that prices could drop below $3 a gallon by the summer.
At the start of his term in January, Mayor Mamdani had the Big Apple’s lenders in his corner — despite his plans to remake the Big Apple economy under his socialist agenda.
Mark Zuckerberg’s Meta is reportedly delaying the release of its next artificial intelligence model at least about two months after internal tests showed the tech falling short of rival models from Google, OpenAI and Anthropic.
BuzzFeed on Thursday flagged going concern doubts and said it will not provide a forecast for 2026 as it evaluates strategic options, sending the digital media company’s shares down 7% after the bell.
Two Live Nation employees bragged about slapping customers with exorbitant fees at the entertainment giant’s venues, saying “these people are so stupid” that “I almost feel bad taking advantage of them,” according to court documents released late Wednesday.
Oil went on an unprecedented roller coaster ride at the start of the week, with the price surging more than 30% to near $120 a barrel late Sunday – only to erase all of those gains just hours later.
President Trump signaled on Wednesday that he plans to tap into the US Strategic Petroleum Reserve in an effort to bring down rising gas prices.