Industrial conglomerate 3M on July 28 said its second-quarter revenue fell 12.2% year-on-year to $7.2 billion because of disruptions related to the Covid-19 pandemic. Operating profit, excluding one-off items, fell 17.3% to $1.4 billion.
McDonald’s on the same day reported $3.8 billion in quarterly sales from restaurants it owns or franchises, a 30% year-on-year decline. Operating profit fell 58% to $961 million. Earnings at the 130 companies in the S&P 500 Index that had reported results by July 27 declined 37% on average compared with the same period a year earlier, according to Refinitiv. Their revenue fell by 7.5%.
ReutersBiz johnsfoley wfh baseline in USA seems to be mid 2021 at this point. mcd business model does not work in a world where employees have flexibility in their life. Price point is too low for ubereats so expect near term revenue to not benefit from socialdistancing.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mintz Levin harnesses technology to boost efficiency and cut costs - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Emirates will pay medical and funeral costs if travelers get COVID-19 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. ThelastofEDM Zakiyyah97 decent You had me sold.... til the funeral part .... khuram18956494
Source: BusinessInsider - 🏆 729. / 51 Read more »
Apple's new Thunderbolt 3 cable costs a whopping $129 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. The crazy part, people will continue to buy! Make sure you are doing the fundamental on this great company before you pick up its stock. PC MASTER RACE Not selling enough phones I guess
Source: BusinessInsider - 🏆 729. / 51 Read more »
'This is the most overwhelming week of earnings season,' Jim Cramer saysThe 'Mad Money' host reviewed the corporate earnings reports he has circled on his calendar this week. Are we gonna see disappointment from FANG stocks Jake Cramer to overwhelm for television..
Source: CNBC - 🏆 12. / 72 Read more »