McDonald’s (NYSE: MCD) reported strong third-quarter earnings Thursday as traffic to its U.S. restaurants is growing. The company’s shares rose approximately 4% during early morning trading amid the news.
The multinational fast food chain reported earnings of USD2.68 per share, compared to the expected 2.58 a share. Revenue amounted to USD5.87 Billion, higher than analysts anticipated USD5.69 Billion. Additionally, net sales fell 5% to USD5.87 Billion.
“Our third quarter 2022 performance demonstrated broad-based business momentum as global comparable sales increased nearly 10%. I remain confident in our Accelerating the Arches strategy as our teams around the world continue to execute at a high level,” said McDonald’s President and Chief Executive Officer, Chris Kempczinski. “As the macroeconomic landscape continues to evolve and uncertainties persist, we are operating from a position of competitive strength. I also want to thank our franchisees, who have done a tremendous job navigating this environment, while providing great value to our customers.”
McDonald’s reported even stronger same-store sales growth outside of the United States. In locations where the company owns its restaurants, same-store sales went up 8% within the quarter. Those divisions are located in Germany, France, Australia, and the United Kingdom.
“Even as U.K. customers grapple with cost of living and energy impacts, our customers are coming back to McDonald’s because of the value we offer,” Kempczinski said.