McDonald's sees third-quarter earnings dip by 2% despite new tech

McDonald's has failed to lure customers in with new technology, bringing the firm's third-quarter earnings down by two percent and dropping net income to $1.6 billion. Although the firm's net income experienced dipped, it was able to show a 5.9 percent increase in global comparable sales, including a decent rise in the US. However, Investors have put pressure on profits following the fast-food giant's increased spending on a variety of technologies including artificial intelligence and voice recognition. McDonald's has failed to lure customers in with new technology, bringing the firm's third-quarter earnings down by 2% and dropping net income to $1.6 billion. Although the firm's net income dipped, it was able to show a 5.9% increase in global comparable sales, including a decent rise in the US Quarterly earnings for McDonalds were flat at $2.11 per share, while Wall Street was looking for at least $2.21 of earnings per-share, according to analysts polled by FactSet. The Chicago company said its third-quarter revenue was $5.4 billion, again missing Wall Street's mark, which was forecasted to be $5.49 billion.