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Jacob Sonenshine: McDonald's earnings, not all bad. Let me run you through the earnings first. Missed on earnings per share posting $2 11 cents versus estimates of $2 21 cents. Revenue was $5.4 billion. Estimates were $5.5 million. Same source sales growth was 4.8% versus Wall Street's expectations of 5.2%. But there were two positives here, that people should make sure to remember. One, the earnings missed was partly attributable to several things, but partly to increased investments in tech, uh, and digital assets. And when you do that, it's those food chains that are doing really well, that are digitally focused. Of course McDonald's has a good app and a partnership with Uber. So that was driving costs up a little bit. That was part of the earnings beat. So that's just reflective of something that they've done well. The stock is up 18.75 year to date. That's roughly in line with the broader market, but still been a decent stock in 2019. And again, the McDonald's, the Chipotle, those types of brands with, that are digitally focused, doing really well. The other positive, for McDonald's global same source sales, 5.9% increase versus expected 5.6%. The magnitude of that beat, not bad. It's pretty good. So those are two positives that you should remember on a day where McDonald's shares are falling about 3% from an earnings miss.

McDonald's (MCD - Get Report) investors weren't feasting on the stock post earnings, but there were two big positives that reflect important strides the company is making. 

The stock was falling 3.32% to $202.89 Tuesday, after the fast-food giant missed earnings and revenue expectations for the third quarter. 

Before we dive into the positives, here were the results:

Earnings per share came in at $2.11, missing Wall Street's estimates of $2.21. Total revenue was $5.4 billion, missing analysts expectations of $5.5 billion. U.S. same-store-sales growth was 4.8%, missing expectations of 5.2%. 

But one reason for the miss is reflective of one of the company's long-term strengths. 

Tech and Digital 

The company said one reason, of several, for the earnings miss was heavier upgrades to technology. 

McDonald's has advanced in-store technology that improves speed and efficiency and it also has a strong focus on its app, through which it delivers mobile orders. One theme in restaurants and fast-food has been that the tech focused chains largely see strong results. 

McDonald's shares are up 18.75% year-to-date, roughly in line with the broader U.S. market, but still a decent gain. Chipotle (CMG - Get Report) , which had a strong digital focus is up 92% on the year, of course with other factors contributing to that gains as well. Starbucks (SBUX - Get Report) has a heavy focus on tech and digital improvements and is up 32% this year. 

Global Business

McDonald's posted global same-store-sales growth of 5.9%, versus expectations of 5.6%. 

U.S. revenue only comprises roughly 36% of revenue, leaving the other 64% to the international stage. Investors would certainly be happy to see the global business thrive, as the company counts on the larger segment for a huge portion of results. 

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