The Happy-meal creator posted stronger-than-expected Q3 results
McDonald’s
revealed that for the three months ending in September, its earnings per share
came in at $2.86, up 42.2% from the year-ago period. The figures came in 40
cents higher than expected. According to McDonald’s officials, the US
same-store sales jumped 9.6% thanks to higher menu prices and larger order
sizes.
At the same time, group revenues rose 14.1% to $6.2 billion,
higher than $5.42 billion initially estimated. Moreover, in September announced
it will resume its suspended $15 billion share buyback program and increased
its quarterly dividend 7% to $1.38 per share.
Following the results, McDonald’s stock price was up 2.8%,
pushing the year-to-date gain to around 13.4%.
Source: thestreet.com
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