McDonald’s posted improved quarterly sales on Wednesday, as hard-pressed consumers continued to splash out on fast food.
Source: Sharecast
Global comparable sales at the Chicago-based burger chain rose 3.6% in the three months to September end, marginally ahead of analyst forecasts for a 3.55% improvement.
In the US, its largest market, comparable sales were up 2.4%.
Total group revenues were 3% stronger at $7.1bn, while net income ticked up 1% to $2.3bn.
Systemwide sales - which include all restaurant sales, whether owned and operated by the company or by franchisees - rose 6% on a constant currency basis to $36bn. Around 95% of McDonald’s restaurants are franchises.
Hospitality has been hit hard in recent years by surging input inflation, weak demand, rising prices and slower wage growth.
McDonald’s, which currently has outlets in more than 44,000 locations worldwide, acknowledged the environment was "challenging".
However, chief executive Chris Kempczinski added: "We’re fuelling momentum by delivering everyday value and affordability, menu innovation and compelling marketing that continues to bring customers through our doors."
As at 1400 GMT, McDonald's had put on 3% in pre-market trading.
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