McDonald's Posts In-Line Earnings; Shares Rise
NEW YORK (TheStreet) -- Shares of McDonald's(MCD) were rising in premarket trading Friday after the fast food chain reported in-line first-quarter earnings.
McDonald's posted earnings of $1.27 billion, or $1.23 a share, on revenue of $6.55 billion. Earnings a year earlier were $1.2 billion, or $1.15 a share, on revenue of $6.11 billion.
Analysts, on average, were expecting profit of $1.23 a share on revenue of $6.54 billion.
Global comparable sales rose 7.3% in the quarter; U.S. same-store sales jumped 8.9%. Comparable sales in Europe gained 5% and sales in the Middle East, Asia and Africa rose 5.5%.
Shares of McDonald's rose 1.78% in premarket trading Friday to $96.98.
-- Written by Alexandra Zendrian
>To contact the writer of this article, click here: Alexandra Zendrian
>To submit a news tip, send an email to: firstname.lastname@example.org.
>To follow the writer on Twitter, go to Alexandra Zendrian.