McDonald’s Corp. (NYSE: MCD) released its most recent quarterly results before the markets opened on Monday. The golden arches said that it had $1.79 in earnings per share (EPS) on $5.14 billion in revenue. That compares with consensus estimates from Thomson Reuters that called for $1.67 in EPS on revenue of $4.97 billion. The same period of last year reportedly had EPS of $1.47 and $5.68 billion in revenue.
During the quarter, global comparable sales increased 5.5% and global comparable guest counts increased 0.8%. Also, systemwide sales increased 7% in constant currencies.
In the United States, first-quarter comparable sales increased 2.9%, driven by growth in average check resulting from menu price increases and product mix shifts. Comparable sales for the International Lead segment increased 7.8%, reflecting positive results across all markets.
The company did not release any guidance for the second quarter with its report. However, the consensus estimates call for $1.94 in EPS on $5.33 billion in revenue for the quarter.
Steve Easterbrook, McDonald’s president and CEO, commented:
We continued to build upon the broad-based momentum of our business, marking 11 consecutive quarters of positive comparable sales and our fifth consecutive quarter of positive guest counts. More customers are recognising that we are becoming a better McDonald’s, appreciating our great tasting food, fast and friendly service and compelling value as we execute our Velocity Growth Plan.
Shares of McDonald’s closed Friday at $158.30, with a consensus analyst price target of $185.54 and a 52-week range of $139.84 to $178.70. Following the announcement, the stock was up about 4% at $164.70 in early trading indications Monday.