McDonald's Posts Juicy Profit, Outlook

OAK BROOK, Ill. (TheStreet) -- McDonald's(MCD) is the McDaddy of restaurants, as it made clear with the release of its third-quarter earnings report today. While the rest of the industry is tanking, the fast-food behemoth ground out third-quarter profit growth and positive same-store sales.

During the quarter, the company earned $1.26 billion, or $1.15 a share, compared with $1.19 billion, or $1.05, in the year-ago period.

Revenue slipped 3.5% to $6.05 billion from $6.27 billion last year. But all eyes are naturally on U.S. same-store sales, which jumped 2.5%, resulting in a 3.8% gain for global comparable sales.

McDonald's attributes much of the strength domestically to the launch of its new Angus burger and the rollout of its McCafe initiative.

And sales aren't expected to slow any time soon. CEO Jim Skinner said he expects October same-store sales to remain positive.

The news sent shares of the company rising 3.5% to $60.35 in pre-market trading.

-- Reported by Jeanine Poggi in New York

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