McDonald's Corporation ( NYSE: MCD ) rallied in early trading on Thursday after comfortably beating estimates with its Q3 earnings report.
Global comparable sales were up 9.5% for the restaurant giant vs. +5.8% consensus. Notably, all segments showed positive growth during the quarter.
U.S. comparable sales were up 6.1%. The results benefited from strategic menu price increases and positive guest counts. Successful marketing promotions featuring the core menu and continued digital and delivery growth also contributed.
The International Operated Markets segment reported a 8.5% increase during the quarter and the International Developmental Licensed Markets segment saw a 16.7%.
Consolidated operating income decreased 7% during the quarter, but was up 1% on a constant currency basis.
CEO update: "As the macroeconomic landscape continues to evolve and uncertainties persist, we are operating from a position of competitive strength. I also want to thank our franchisees, who have done a tremendous job navigating this environment, while providing great value to our customers."
Shares of MCD rose 3.55% in premarket action to $265.69 vs. the 52-week trading range of $217.68 to $271.15.
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McDonald's rallies after comparable sales dazzle in Q3