McDonald’s Reports 30 Percent Drop in Second-Quarter Revenue

by Alex Tostado

Chicago — McDonald’s Corp. has reported a 30 percent decrease in its consolidated revenue for the second quarter that ended June 30. The global fast-food chain reported second-quarter net income of $483.8 million, compared with $1.5 billion for the same period a year ago. Chicago-based McDonald’s says it spent more than $200 million on marketing support to accelerate recovery from coronavirus losses. In the United States, 99 percent of McDonald’s restaurants were open as of June 30. About 2,000 dining rooms reopened with reduced seating capacity following temporary closures as a result of the COVID-19 pandemic. Chris Kempczinski, president and CEO, says that a strong drive-thru presence and investments in delivery and digital platforms have served the company well through this time.

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