Oct 30 (Reuters) – McDonald’s beat Wall Street estimates for third-quarter profit and revenue on Monday, supported by new launches and demand for affordable meals amid continued high food prices .
On the New York Stock Exchange, the fast food giant’s shares gained 2% in pre-market trading.
McDonald’s has been able to keep its meals at relatively low prices despite the rise in input costs that hit the entire industry last year, allowing it to remain unaffected by the decline in restaurant patronage. restaurants.
McDonald’s global comparable sales jumped 8.8% in the quarter ended September 30, compared with analysts’ average forecast of a 7.36% increase, according to LSEG data.
After peaking at 7.3% in July, restaurant attendance declined in August and September – recording declines of 1.1% and 3.7% – but remained above general industry trends, according to data from Placer.ai.
Total quarterly revenue rose 14 percent to $6.69 billion (€6.33 billion), beating estimates of $6.58 billion.
Net profit reached $2.32 billion (2.19 billion euros), or $3.17 per share, compared to $1.98 billion, or $2.68 per share, a year earlier.
(Report Deborah Sophia, French version Stéphanie Hamel, edited by Blandine Hénault)
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