McDonald's Corp. (MCD) posted stronger-than-expected second-quarter comparable-store sales Friday as earnings matched Wall Street forecasts.
McDonald's said adjusted earnings for the three months ending in June came in at $2.05 per share, up 6 cents from the same period last year and largely in-line with the Street consensus forecast. Group revenues, McDonald's said, dipped 0.4% to $5.34 billion but edged just ahead of analysts' estimates of $5.32 billion.
Global same-store sales, McDonald's said, were pegged 6.5% higher than last year while comparable U.S. sales rose 5.7%, topping the Street estimate of 4.5%.
"With the strong results we achieved in the second quarter, we have now experienced 16 consecutive quarters of positive global comparable sales," said CEO Steve Easterbrook. "By putting our customers at the centre of all our efforts to run great restaurants, enhance the customer experience and provide delicious menu offerings, we will continue to successfully execute our Velocity Growth Plan."
McDonald's shares finished up 0.5% on Friday to $215.58.