McDonald's beats on earnings, stock spikes

McDonald’s just reported third-quarter earnings that topped analysts’ forecasts.

The company beat on adjusted EPS by 12 cents, posting $US1.40 per share. Revenues fell 9% to $US19.07 billion.

Same-store sales rose 4% globally, and 0.9% in the US.

“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 CEO Steve Easterbrook in the statement.

Shares rose by as much as 6% in premarket trading. They have rallied 12% over the past year.

More to come …

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