McDonald's tops analysts' expectations

McDonald's reported quarterly profit that topped analysts' expectations on strength in the Europe and the United States, and …

McDonald's reported quarterly profit that topped analysts' expectations on strength in the Europe and the United States, and shares rose more than 2 per cent.

For the second quarter, sales at established restaurants were up 4.5 per cent in the United States, up 5.9 per cent in Europe and up 5.2 per cent in its Asia/Pacific, Middle East and Africa unit.

The world's biggest hamburger chain said net income rose to $1.41 billion, or $1.35 per share, compared with $1.23 billion, or $1.13 a share, a year earlier.

Results from the latest quarter exceeded analysts' average profit view of $1.28 per share, according to Thomson Reuters.

Revenue rose to $6.91 billion from $5.95 billion a year earlier.

McDonald's shares closed at $86.54 on the New York Stock Exchange and jumped to $88.50 in premarket trading.

Reuters