Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Restaurant Brands International Inc. QSR, +3.03% said Friday it had net income of $252 million, or 79 cents a share, in the third quarter, down from $360 million, or $1.17 a share, in the year-earlier period. Adjusted per-share earnings came to 90 cents, ahead of the 85 cent FactSet consensus. Revenue rose to $1.837 billion from $1.726 billion, a whisker below the $1.867 billion FactSet consensus.
The company said higher commodity, labor, and energy costs in 2022 and year-to-date 2023, partially due to the macroeconomic impact of both the war in Ukraine and COVID-19, have resulted in increases in inflation, foreign exchange volatility and rising interest rates.
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