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McDonald's Revenue Beats Estimates as Breakfast Helps US Gains

By Publications Checkout

McDonald’s Corp.’s third-quarter revenue topped analysts’ estimates, helped by international markets like the U.K. and Canada as well as the expansion of its all-day breakfast menu in the U.S.

Revenue was $6.42 billion in the period ended Sept. 30, the Oak Brook, Illinois-based company said in a statement on Friday. Analysts estimated $6.28 billion, on average. Globally, comparable-stores sales rose 3.5 percent, while analysts projected a 1.5 percent gain, according to Consensus Metrix.

Chief Executive Officer Steve Easterbrook has staged a turnaround at the company with the help of steep discounting, faster kitchens and all-day breakfast at its domestic locations. McDonald’s, which gets about two-thirds of its revenue from outside the U.S., also was helped in the quarter by gains in its international lead markets unit, which includes the U.K., Canada, Australia and Germany.

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The shares increased 3.6 percent to $114.50 at 8:02 a.m. in early trading New York. Through Thursday, McDonald’s had dropped 6.4 percent this year.

News by Bloomberg, edited by Hospitality Ireland

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