McDonald's Beats Earnings Estimates but Sales Continue to Slide

McDonald's (MCD) posted results that beat analyst estimates but first quarter sales continue to slide. The fast food chain reported earnings of $811.5M or $0.84 per share, down from $1.21 per share this time last year. U.S. sales were down 2.6 percent as McDonald's battles tough competition and a strong dollar. The burger chain is still planning details of its turnaround but so far the shakeup has included higher pay for workers, cutting the use of antibiotics in chicken and simplifying menus. CEO Steve Easterbrook is also working to improve public perception of McDonald's food quality. McDonald's shares were up on the news.