McDonald's crushes earnings expectations thanks to all-day breakfast and other menu changes
Aug 21, 2024, 23:22 IST
McDonald's on Tuesday reported first-quarter earnings and sales that beat analysts' most bullish estimates, sending the company's shares higher in pre-market trading.
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McDonald's said global sales at stores open for at least one year - so-called comparable store sales - rose 4%, trouncing an estimate for an increase by 1.3%.
The launch of all-day breakfast and more recent menu changes helped lift sales in the US by 1.7%, the company said.
The company reported adjusted earnings per share of $1.47, beating the estimate for $1.34.
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