Business Standard

McDonald's global same-restaurant sales tops estimates


(Reuters) - McDonald's Corp 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.
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)

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 30 2018 | 6:24 PM IST

Explore News