Fast food giant McDonald’s reported better than expected third quarter earnings and revenue figures on Thursday, sending its shares higher in pre-market trade.
McDonald’s said earnings per share came in at $1.40 in the three months ended September 30, beating expectations for earnings of $1.28 per share and up from earnings of $1.09 a share in the same period a year earlier.
The company’s third quarter revenue totaled $6.62 billion, above forecasts for sales of $6.41 billion but down 5.3% from revenue of $6.99 billion in the third quarter of 2014.
Global comparable sales increase of 4.0%, reflecting positive comparable sales in all segments.
In the U.S., third quarter comparable sales increased 0.9%, the segment's first quarterly comparable sales increase in two years.
Comparable sales for the International Lead Markets segment increased 4.6% for the third quarter led by strong performance in Australia, the U.K. and Canada and positive results in Germany.
"I am encouraged by our operating performance for the quarter, with positive comparable sales across all segments, including the U.S., as well as sales recovery in China following the prior year supplier issue," said McDonald's (N:MCD) President and Chief Executive Officer Steve Easterbrook.
Immediately after the earnings announcement, McDonald’s shares rallied $6.26, or 6.1%, to hit $109.20 in trading prior to the opening bell compared to Wednesday's closing price of $102.54.
Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures rose 68 points, or 0.4%, the S&P 500 futures tacked on 8 points, or 0.37%, while the Nasdaq 100 futures advanced 20 points, or 0.44%.
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