McDonald's puts up some supersized 3Q numbers

FILE- This Aug. 8, 2018, photo shows logos of McDonald's Chicago flagship restaurant. McDonald's Corp. reports earnings Tuesday, Oct. 23. (AP Photo/Nam Y. Huh, File)
FILE- In this Aug. 8, 2018, file photo a McDonald's employee works at McDonald's Chicago flagship restaurant. McDonald's Corp. reports earnings Tuesday, Oct. 23. (AP Photo/Nam Y. Huh, File)
FILE- In this Aug. 8, 2018, file photo employees stand in McDonald's Chicago flagship restaurant. McDonald's Corp. reports earnings Tuesday, Oct. 23. (AP Photo/Nam Y. Huh, File)

CHICAGO — McDonald's logged its 13th consecutive month of positive same-store sales and topped Wall Street profit and revenue expectations for the third quarter.

Shares in the world's biggest burger chain defied a major sell-off in U.S. markets before the opening bell Tuesday, rising more than 2 percent.

The company earned $1.64 billion, or $2.10 per share. That's 12 cents better than industry analysts had projected, according to a survey by Zacks Investment Research.

Revenue of $5.37 billion, though down from the same period last year, also beat expectations. The company has been turning company-owned restaurants into franchises, which pulls on its revenue numbers.

"Putting to one side the decline in revenue, which is a function of McDonald's transferring company-owned restaurants into franchises, this is a reasonable set of results for the burger giant," said Neil Saunders, the managing director of GlobalData Retail. "Overall comparable sales growth is solid, with both the US and international divisions contributing to the uplifts."

Same-store sales for McDonald's Corp. rose 2.4 percent, which was shy of most estimates, but overlooked by investors in early trading.

Shares are still down 3 percent this year, but have risen almost 5 percent in the just-ended quarter.

_____

Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCD at https://www.zacks.com/ap/MCD

You may also interested in

Self-driving cars go public; Uber offers rides in Pittsburgh

Aug 18, 2016

The option to hail a ride in a self-driving car will soon be available to Uber users in Pittsburgh

Officials: Zika won't hurt South Florida tourism in long run

Aug 20, 2016

The discovery of Zika-carrying mosquitoes in South Florida certainly isn't ideal for tourism, but local officials and business leaders are confident the long-term impact on the tourism industry will be minor

Delphi, Mobileye join forces on autonomous car platform

Aug 23, 2016

Auto parts and electronics company Delphi Automotive is joining with Israeli software maker Mobileye to develoDelphi and Mobileye plan to build a complete autonomous driving platformp the building blocks for a fully autonomous car in about two years

People also read these

Republicans to query firms that ran Clinton's private server

Aug 23, 2016

Republicans are stepping up attacks on former Secretary of State Hillary Clinton's use of private email, alleging that foreign donors to the Democratic presidential nominee's family charity got preferential treatment from her department

Some vacation spots quietly benefit as travelers avoid Zika

Aug 23, 2016

Zika fears are leading some to book away from the Caribbean and Florida

Several tornadoes likely hit Indiana, Ohio; no bad injuries

Aug 25, 2016

Authorities say a wave of severe storms likely produced several tornadoes in Indiana and Ohio, damaging homes and businesses but causing no serious injuries

Emporium Post fulfils the need to know all things about consumers and how businesses can take this opportunity to reach their own customers.

Contact us: sales@emporiumpost.com

Join our mailing list now!