Arcos Dorados rises on revenue beat

Arcos Dorados Holdings

17/05/2023 13:46

** Shares of McDonald's franchisee Arcos Dorados Holdings
Inc  ARCO.N  up 7.1% at $9 before the bell
    ** Co posts 25.3% rise in Q1 revenue to $990.8 mln, beating
analysts' estimates of $953.4 mln - Refinitiv IBES data
    ** Quarterly profit jumps 52.7% to $37.4 mln
    ** Systemwide comparable sales increased 37.6% during qtr
supported by higher guest volume across all divisions
    ** As of last close, ARCO shares up ~0.5% YTD

 (Reporting by Aatrayee Chatterjee in Bengaluru)
 ((aatrayee.chatterjee@thomsonreuters.com))