McDonald's Earnings Beat Estimates, Sales Continue to Decline

McDonald's (MCD) reported earnings on Thursday that beat analyst estimates despite 4 straight quarters of decline. The fast food chain has been struggling to hold onto market share as consumers turn to healthier rival restaurants. Second quarter earnings were down to $1.26 per share from last year's $1.40. Revenue also beat estimates, coming in at $6.50 billion but declining from last year's $7.18 billion. Analysts had expected earnings of $1.23 on revenue of $6.45 billion. A key metric of global comparable results missed estimates, as customers paid fewer visits to the burger chain. Reactions were mixed on the earnings news. New CEO Steve Easterbrook has been working to boost sales and reestablish the chain within the Chinese market. He told investors that: 'while our second quarter results were disappointing, we are seeing early signs of momentum.' The company expects to see more positive results next quarter.