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McDonald’s Beats Second-Quarter Profit Estimates, Names Skye Anderson Head of U.S. Operations

McDonald’s reported stronger-than-expected second-quarter profits on Tuesday while naming long-time executive Skye Anderson as the new president of its U.S. division to invigorate domestic performance.

The Chicago-based fast-food giant earned $2.36 billion, or $3.32 per share, for the three months ending June 30. Adjusted earnings per share reached $3.38, topping Wall Street expectations of $3.32. Revenue climbed 4% to $7.1 billion, slightly below analyst forecasts.

Global same-store sales rose 1.3%, but growth in the United States slowed to 0.8% as inflation-weary consumers cut back on restaurant visits. In response, McDonald’s appointed Anderson, a 26-year company veteran and former Chief Operating Officer, to lead nearly 14,000 domestic locations. Anderson succeeds Joe Erlinger as the chain focuses on value offerings and menu adjustments to drive U.S. customer traffic.

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