McDonald’s estimated the loss from leaving Russia at $1.2 billion, almost half of the company’s profit for the quarter, which this year was $1.19 billion. At the same time, the restaurant chain’s overall revenue fell slightly.
McDonald’s financial results for the second quarter of 2022 (April-June) are reflected in the company’s report.
McDonald’s has written off Russian assets worth $1.2 billion. Because of this, the restaurant chain lost almost half of its quarterly profit: it fell from $2.2 billion in the second quarter of 2021 to $1.19 billion in the same period of 2022.
McDonald’s total revenue was almost flat: $5.72 billion in April-June 2022 versus $5.89 billion for the same period this year. The chain’s global LFL sales increased 9.7%.
McDonald’s departure was announced on May 16. Less than a month later, the restaurants began to work under a new brand: “Tasty, and that’s it.” The Russian McDonald’s business was bought by businessman Alexander Govor.
Author:
Kirill Bilyk
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
