McDonald's says business is booming overseas

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  • McDonald’s beat on profits and slightly missed on sales.
  • The burger giant’s global comparable-sales growth topped Wall Street estimates.
  • But its US same-store sales were weaker than expected.
  • Watch McDonald’s trade live.

McDonald’s jumped 2.75% Wednesday morning after reporting better-than-expected profits for the fourth quarter that were boosted by strong international growth.

The fast-food giant earned $US1.97 a share – $US0.08 better than what analysts were expecting, according to Bloomberg. It generated $US5.16 billion of sales, just missing the $US5.17 billion that was expected by Wall Street.

McDonald’s said global comparable sales increased for a 14th straight quarter, up 4.4% versus 4% growth that was expected. However, its US comparable sales only grew 2.3%, missing the 2.4% growth rate that analysts were hoping for.

“Our performance in 2018 was strong, driven by the Velocity Growth Plan with broad-based momentum across each of our global segments,” said CEO Steve Easterbrook in a press release.

“We continued to transform our business by making substantial progress on modernising our restaurants and offering more convenience, choice and value to our customers.”

McDonald’s was up 7% in the past twelve months.

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