McDonald's beats big on earnings
Apr 22, 2016, 17:30 IST
McDonald's just reported first-quarter earnings, and it absolutely crushed it.
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The fast-food company posted adjusted earnings per share (EPS) of $1.23, on revenues of $5.90 billion.
Analysts had estimated adjusted EPS of $1.16 on revenues of $5.81 billion, according to Bloomberg.
McDonald's same-store sales - at locations open for at least one year - rose 6.2%, topping the forecast for 4.5%.
In the fourth quarter, McDonald's results showed that its turnaround strategy, including all-day breakfast and management restructuring, was paying off. Its same-store sales rose for the first time in two years in the third quarter.
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The company's shares rose by as much as 2% in pre-market trading.
More to come ...