McDonalds' Results Impress as Sales Rise More-than-Expected
McDonalds' Results Impress as Sales Rise
More-than-Expected
McDonald's Corp. should have no problem coming up with the money to pay those 50,000 new workers it hired the other day, as it posted better-than-expected earnings for the first quarter Thursday. The world's largest restaurant chain reported higher sales in all regions in March, and total revenue for the quarter that easily surpassed analysts' expectations, climbing 9 percent from the same quarter a year ago to $6.1 billion.
McDonald's sales in March at stores open at least 13 months were up 3 percent in the US, 4.9 percent higher in Europe, and up 0.5 percent in the company's Asia/Pacific, Africa, and Middle East segment. Overall sales were up 3.6 percent. Analysts had forecast, on average, the fast food chain would report sales in the US rising 2 percent, Europe just over three percent, and elsewhere 2 percent. The United States typically contributes just over one-third of McDonalds' overall revenue, compared to Europe, which accounts for about 40 percent.
The company reported Thursday that its first-quarter net income rose 10.9 percent from the same quarter a year ago to $1.21 billion, or $1.15 per share. Analysts in a recent Thomson Reuters survey had projected the company to report a profit of $1.14 a share, on average.
McDonald's Corp. should have no problem coming up with the money to pay those 50,000 new workers it hired the other day, as it posted better-than-expected earnings for the first quarter Thursday. The world's largest restaurant chain reported higher sales in all regions in March, and total revenue for the quarter that easily surpassed analysts' expectations, climbing 9 percent from the same quarter a year ago to $6.1 billion.
McDonald's sales in March at stores open at least 13 months were up 3 percent in the US, 4.9 percent higher in Europe, and up 0.5 percent in the company's Asia/Pacific, Africa, and Middle East segment. Overall sales were up 3.6 percent. Analysts had forecast, on average, the fast food chain would report sales in the US rising 2 percent, Europe just over three percent, and elsewhere 2 percent. The United States typically contributes just over one-third of McDonalds' overall revenue, compared to Europe, which accounts for about 40 percent.
The company reported Thursday that its first-quarter net income rose 10.9 percent from the same quarter a year ago to $1.21 billion, or $1.15 per share. Analysts in a recent Thomson Reuters survey had projected the company to report a profit of $1.14 a share, on average.
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