Comps Strong at Burger King

The company's quarterly profits top estimates.
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Burger King

(BKC)

said positive comparable sales in every region worldwide and an increase in new restaurant openings lifted first-quarter revenue to a record level.

The fast food chain had a top line of $546 million, up 7% from a year ago. Earnings for the quarter rose to $40 million, or 30 cents a share, from $22 million and 19 cents a share in the year-ago period.

Analysts surveyed by Thomson Financial expected a profit of 26 cents and sales of $538.1 million.

Same-store sales in the U.S. and Canada rose by 2.6%. Worldwide, comparable sales increased by 2.4% for the quarter.

The company also said it's on target to achieve its key goals for the fiscal year, including revenue growth of 6% to 7% and increasing adjusted net income in excess of 20%.