 "McDonald's US comparable sales rise 1.7%")
McDonald's Corp reported a better-than-expected increase in quarterly sales at established US restaurants, boosted by the expansion of all-day breakfast, and Big Mac and beverage value promotions.
The world's largest fast-food chain said on Tuesday that same-restaurant sales at McDonald's rose 1.7 per cent in the three months ended March 31.
Analysts were expecting a 1.3 per cent increase, according to research firm Consensus Metrix.
Net income jumped 8 per cent to $1.21 billion, or $1.47 per share, handily beating analysts' average estimate of $1.33, according to Thomson Reuters I/B/E/S.
McDonald's shares were up 2.4 per cent in premarket trading.
"There's a sense of urgency across the business as we take actions to retain existing customers, regain lapsed customers and convert casual customers to committed customers," CEO Steve Easterbrook said.
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Easterbrook has vowed to transform McDonald's into a "modern, progressive burger company". He has introduced the all-day breakfast, banned the use of medically important antibiotics in US. chicken.
Revenue fell 3.9 per cent to $5.68 billion - the eleventh straight quarter of declines - mainly due to the sale of restaurants to franchisees as part of Easterbrook's turnaround plan.