(New York) McDonald’s beat expectations in the first quarter on higher menu prices and restaurant attendance.
“In a challenging operating environment, customer demand for the McDonald’s brand remains strong,” company chief executive Chris Kempczinski said in a statement.
So-called comparable sales, the industry benchmark that excludes currency fluctuations and only includes stores open for at least 13 months, rose 12.6% over the period.
In the United States, sales benefited, according to McDonald’s, from effective promotional campaigns highlighting best-selling products as well as the continued increase in online and delivery sales.
Outside the United States, sales held up especially well in Australia, Canada, France, Germany, the United Kingdom and Japan.
Although the group has increased its prices a little, its prices remain lower than those of other similar chains.
Overall company revenue increased 4% to $5.9 billion, 8% at constant exchange rates.
Its net profit jumped 63% to $1.8 billion.
Adjusted per share and excluding exceptional items, it came in at $2.63, above the $2.33 expected by analysts.
The stock rose 0.8% in electronic trading ahead of the opening of the New York Stock Exchange.
