McDonald’s on Friday reported third-quarter sales that beat analysts’ estimates amid concern that the boost from all-day breakfast was fading.
The company said its comparable-store sales, or sales at locations open for at least one year, rose 3.5%, topping the forecast for 1.5% growth, according to data from Bloomberg.
In the second quarter, the company’s comparable-store sales growth slowed and missed analysts’ expectations.
After McDonald’s introduced all-day breakfast, some US franchisees predicted that the novelty of hash browns for lunch would quickly fade away. In September, McDonald’s improved its all-day breakfast menu, adding McGriddle sandwiches and making both McMuffin and biscuit sandwiches available at all restaurants.
The restaurant said the McPick 2 offering and the introduction of chicken McNuggets without artificial preservatives also helped sales during the quarter. Its shares rose 3% in premarket trading after the earnings announcement.
McDonald’s reported revenue of $6.4 billion, topping the forecast for $6.3 billion. Its adjusted earnings per share excluding restructuring charges came out to $1.62, beating the forecast for $1.48. Those charges relate to the company’s plans announced in July to refranchise 4,000 restaurants by the end of 2018.