McDonald’s earnings match estimates as promos drive US growth – Business Insider
- McDonald’s third-quarter sales and profits matched analysts’ expectations.
- Sales at US stores open for at least one year were boosted by a promo for soft drinks and the McPick 2 menu, as well as the new signature-crafted burgers.
McDonald’s on Tuesday reported third-quarter earnings and sales that matched analysts’ forecasts as its promotions continued to drive sales growth at US restaurants.
The fast-food chain reported adjusted earnings per share of $1.76, matching the consensus estimate according to Bloomberg.
Revenues also matched forecasts, at $5.75 billion. The company benefitted from the sale of its businesses in China and Hong Kong.
Sales at stores in the US open for at least one year rose 4.1%, driven by its $1 soda and McPick 2 promos, as well as the new signature-crafted burgers, the company said. Analysts had forecast 3.4% growth. McDonald’s in July expanded the number of US restaurants that offered delivery through UberEats.
McDonald’s shares gained 34% this year through Monday’s close. They were little changed premarket after the earnings release.
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