McDonald's net income rises in fourth quarter 2022

By Xu Jing

CHICAGO, Jan. 31 (Xinhua) -- McDonald's reported on Tuesday that it raked in 1.9 billion U.S. dollars in net income in the fourth quarter of 2022, up from 1.64 billion dollars a year earlier and higher than market expectations.

Meanwhile, the U.S. fast food giant's net sales fell one percent to 5.93 billion dollars but rose 5 percent when stripping out foreign currency changes.

In the United States, McDonald's same-store sales grew 10.3 percent in the quarter. Globally, same-store sales climbed 12.6 percent.

The Chicago-based fast food giant plans to open 1,900 new restaurants in 2023, of which more than 400 will be in the United States and international operated markets, while the rest will be opened by developmental licensees worldwide.

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