New York — McDonald’s, the world’s largest restaurant chain, posted fourth-quarter earnings that beat analysts’ estimates, boosted by new foods and improved technology. Profit was $1.44 a share in the period, the Illinois, US-based company said in a statement on Monday. Analysts estimated $1.41, on average. Globally, same-store sales rose 2.7%, while analysts projected a 1.4% gain. CEO Steve Easterbrook, who took over about two years ago, has mounted a comeback at the fast-food chain, using technology upgrades and all-day breakfast at domestic locations to boost sales. McDonald’s has worked to improve its offerings and piled on discounts to draw customers amid steep competition in the restaurant industry. The shares rose 1.3% to $123.86 at 8am in early trading in New York on Monday. McDonald’s gained 5.6% in the 12 months to the end of last week. Bloomberg
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.