McDonald’s missed Wall Street’s third-quarter earnings expectations, reporting adjusted earnings of $3.22 per share versus the $3.33 anticipated, and revenue of $7.08 billion compared with the $7.1 billion forecast.

Despite this, U.S. same-store sales grew more than expected.

CEO Chris Kempczinski highlighted that growth reflects the company’s ability to perform in a challenging environment, noting continued declines in traffic from lower-income consumers while higher-income consumer traffic remains strong.

McDonald’s net income rose slightly to $2.28 billion, or $3.18 per share, up from $2.26 billion a year earlier, though a higher tax rate weighed on earnings, CNBC has reported.

Shares climbed over 3% in morning trading, and the company expects consumer pressure to persist into 2026.