On Thursday, McDonald’s Corp reported a drop of 16.7% in its quarterly earnings, as most of its restaurants in the world limited delivery services and take-away orders amid restrictions to slow the spread of the coronavirus pandemic.
The world’s largest fast food chain said that about 75% of its nearly 39,000 restaurants in the world were operational, including almost all of its 14,000 locations in the United States.
The company said it resumed operations in China, where the virus was first detected late last year, although demand was still low because consumers had not fully returned to normal activities.
The restaurant chain, which had previously announced a 3.4% drop in its comparable store sales earlier this month, their net profit fell to $1.1 billion, or $1.47 per share, in the quarter ended March 31. ; versus earnings of $1.33 billion, or $1.72 per paper, reported the previous year.
Total turnover dropped 6.2% to $4.71 billion against Wall Street estimates of sales of $4.65 billion, according to IBES data from Refinitiv.