McDonald's Resolves Global Technology Outage; Blames Third-Party Provider As Cause, Not Cybersecurity
Portfolio Pulse from Nabaparna Bhattacharya
McDonald's Corporation (NYSE:MCD) experienced a global technology system outage affecting multiple locations, which has been identified and corrected. The outage, caused by a third-party provider during a configuration change, impacted operations including order-taking and food service in regions such as Japan, Australia, New Zealand, and Europe. McDonald's EVP, Brian Rice, emphasized the importance of technology reliability and stated the issue was not due to a cybersecurity event. Shares of McDonald's traded lower by 0.60% to $279.96 following the news.
March 15, 2024 | 3:56 pm
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McDonald's Corporation resolved a global technology system outage, impacting operations and causing a 0.60% drop in share price to $279.96.
The global technology system outage at McDonald's, caused by a third-party provider, directly impacted operations across several regions, leading to a negative short-term impact on the company's stock price. The quick resolution and clarification that it wasn't a cybersecurity issue may mitigate long-term effects, but the immediate operational disruptions and negative investor sentiment contributed to the stock's decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100