McDonald’s global same-restaurant sales tops estimates

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

(Reuters) – McDonald’s Corp (MCD.N) reported a better-than-expected rise in quarterly sales at its restaurants on Monday, helped by strong international sales, especially in the UK and Germany, sending its shares up 3.6 percent.

FILE PHOTO: A sign for the U.S. fast food restaurant chain McDonald’s is seen outside one of their restaurants in Sint-Pieters-Leeuw, near Brussels, Belgium February 14, 2018. REUTERS/Yves Herman/File Photo

Global sales at stores open at least 13 months rose 5.5 percent, easily topping the average analyst estimate of 3.94 percent, according to Thomson Reuters I/B/E/S.

Same-store sales for what it calls its international lead markets – comprising Australia, Canada, France, Germany and the United Kingdom – rose 7.8 percent, surging past analysts’ expectation of a 5.30 percent gain.

Sales at McDonald’s U.S. restaurants also topped estimates due to higher menu prices and an increase in customer visits.

Excluding items, the company earned $1.79 per share, beating the estimate of $1.67.

Net income rose to $1.38 billion, or $1.72 per share, from $1.21 billion, or $1.47 per share, a year earlier.

Revenue fell 9 percent to $5.14 billion, but edged past the estimate of $4.98 billion.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Saumyadeb Chakrabarty

1 News Net

1 News - 1 Movies - 1 Music - 1 eBooks - 1 Search

 

Leave a Reply