CAIRO, Oct. 23 (SEE)- McDonald’s shares rose today more than the expected third-quarter report, which showed a strong performance in international market.
McDonald’s reported $2.10 earnings per share versus the $1.99 earnings per share. Revenue came in better than expected at $5.37 billion versus Wall Street’s $5.29 billion expectation.
McDonald’s President Steve Easterbrook said: “In addition to achieving 13 consecutive quarters of positive global comparable sales, we have made substantial progress modernizing restaurants around the world, enhancing hospitality and elevating the experience for the millions of customers we serve every day. We remain confident that our strategy will drive long term profitable growth.”
Restaurant chains in the United States have been competing for a bigger share of an over crowded restaurant market by offering dollar menus, discounts on beverages and limited-time menu items as well as freshly prepared meals to diners.