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McDonald's lovin' it as third-quarter sales beat expectations

Published 21/10/2016

The world's biggest burger chain saw global sales notch up 3.5% in the three months to the end of September
The world's biggest burger chain saw global sales notch up 3.5% in the three months to the end of September

Fast-food giant McDonald's served up better-than-expected third-quarter sales, boosted by its breakfast menu and a strong performance in the UK.

The world's biggest burger chain saw global sales notch up 3.5% in the three months to the end of September, above analyst expectations of 1.3%.

A growing customer appetite for its all-day breakfast menu and chicken nuggets with no artificial preservatives helped US sales lift 1.3% over the period.

It comes as the company looks to add more items to its all-day breakfast menu and test a Happy Meal for kids with an egg and cheese McMuffin.

Shares in McDonald's were up more than 2% in New York following the update.

Chief executive Steve Easterbrook said: "Our third-quarter results, including our fifth consecutive quarter of positive comparable sales across all segments as well as improved restaurant profitability, are a testament to the progress we are making to satisfy the needs of today's dynamic customers."

The firm recorded net income of 1.28 billion US dollars (£1.04 billion) in the third quarter while its revenues also hit a higher-than-expected 6.42 billion US dollars (£5.26 billion).

Mr Easterbrook was the first Briton to be appointed president and chief executive of the business when he took over from Don Thompson last year.

His appointment came as the chain faced slumping sales in the US, intense competition and changing consumer tastes.

"Looking ahead, we are focused on growing global comparable sales and serving more customers while being mindful of the near-term challenges in several markets," Mr Easterbrook added.

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