McDonald’s is loving its fourth-quarter earnings
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.