McDonald's Hits Mixed Q2 Results Amid Consumer Spending Woes

McDonald's reported mixed quarterly financial results as lower-income consumers continue to reduce discretionary spending. The company, known for its hamburgers and fries, beat Wall Street's earnings per share (EPS) expectation with $3.38 U.S., but fell short on revenue at $7.10 billion U.S.

McDonald's same-store sales growth in the U.S. slowed to 0.8% year-over-year, while international same-store sales rose 1.5%. The company attributed declining sales to lower-income consumers choosing to eat at home and dine out less often.

To boost U.S. sales and drive renewed growth, McDonald's plans to launch a new drink lineup of crafted beverages for summer months. The company also revealed a new restaurant design, revised food and drink menu, and improved customer service as part of its growth strategy unveiled in June at its convention for franchisees.