The performance of

McDonald's

(MCD) - Get Report

restaurants in July had investors cheering on Friday and the company's shares jumping more than 7%.

The fast-food company's stock was recently up $1.61 to $23.67 following Thursday's report that systemwide sales increased 11% last month. In constant currencies, sales advanced 7%.

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Same-store sales for July rose 4.2% in constant currencies, compared with a 3.6% decline in the same month last year.

"U.S. customers are visiting us for new products as well as McDonald's classics as evidenced by higher sales of our flagship Big Mac sandwich, premium chicken sandwiches and breakfast products," McDonald's Chairman and Chief Executive Jim Cantalupo said in a prepared statement.

Europe's same-store sales were down 0.6% last month, but that was still its best showing since July 2002. "We are taking action to create and build momentum in Europe through enhanced menu variety, improved service and branded affordability," Cantalupo's statement said.

U.S. systemwide sales in July rose 13% to $2.02 billion from $1.8 billion last year.

McDonald's sales have been improving recently, and the company continues to rebound from months of weak demand that lasted into the spring of this year. In April, Cantalupo promised that the company's turnaround effort would take 12 to 18 months.