Lovin it: Rising international sales give boost to McDonald’s shares
McDonald's reported a 4.2 per cent rise in global sales during the third quarter of 2018, pushing its Wall Street shares up three per cent after the opening bell.
Strong demand from the fast-food chain’s international markets helped boost its results this afternoon, in the wake of rising sales in UK, Australian and Japanese markets.
However, sales with the company’s own US markets climbed 2.4 per cent in the three months to the end of September, marking the slowest pace of growth in six quarters.
The domestic performance, which was below average Refinitiv estimates of 2.55 per cent growthin the third quarter, comes as fast-food giants across the US ramp up efforts to gain a bigger share of an over-crowded market.
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McDonald's president and chief executive officer Steve Easterbrook said: “In addition to achieving 13 consecutive quarters of positive global comparable sales, we have made substantial progress modernising restaurants around the world, enhancing hospitality and elevating the experience for the millions of customers we serve every day. We remain confident that our strategy will drive long-term, profitable growth”