Pedestrians walk past a McDonald’s Corp. restaurant in the Shibuya district of Tokyo, Japan, on Monday, Jan. 20, 2020.
Noriko Hayashi | Bloomberg | Getty Images
McDonald’s on Wednesday reported quarterly earnings that topped analysts’ expectations as price hikes boosted U.S. sales.
Shares of the company jumped 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.97, adjusted, vs. $1.96 expected
- Revenue: $5.3 billion vs. $5.3 billion expected
- Global same-store sales: 5.9% vs. 5.2% expected
Excluding a tax benefit related to new regulations, the global fast-food giant earned $1.97 per share, topping the $1.96 per share expected by analysts surveyed by Refinitiv.
Net sales rose 4% to $5.3 billion, meeting expectations. The company reported global same-store sales growth of 5.9%.
In the United States, its home market, same-store sales climbed 5.1% during the quarter, driven in part by price hikes. McDonald’s also attributed its strong U.S. performance to sales of core menu items like the Big Mac and positive impacts from high-tech store renovations that include self-order kiosks.
During fiscal 2019, global systemwide sales surpassed $100 billion.