(Boursier.com) — McDonald’s, the American fast food giant, exceeded market forecasts in terms of profits for the third quarter, as menu prices rose. The stock is expected to rise before market on Wall Street. Quarterly global systemwide sales, which include sales at company-owned and franchised restaurants, increased 11% year-over-year. Global same-store sales rose 8.8%, significantly above consensus. Consolidated revenues increased by 14% to 6.7 billion dollars, or +11% at constant exchange rates, while the consensus was 6.5 billion. Adjusted earnings per share came in at $3.19, up 19% from last year, versus a consensus of $3. Consolidated net profit increased by 17% to $2.3 billion.
“With global sales growth of 11% system-wide, our third quarter results reflect our strong position as an industry leader,” said Chris Kempczinski, McDonald’s Chief Executive Officer. “The macroeconomic environment is evolving in line with our expectations for the year, and we have continued to deliver convenience and value to our customers,” adds the executive.
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