McDonald’s Shares Explode After Q1 Results Sizzle

Shares of the world’s biggest fast food company, McDonald’s, sprang to life after the company reported stupendous first quarter results this week that blew past Wall Street’s expectations.

The company reported earnings of $1.38 billion, or $1.72 a share. In the year ago quarter this number was $1.47 a share. Adjusted earnings came to $1.79 a share pretax expenses. Analysts had been expecting $1.67 a share.

Comparable-store sales in the U.S. saw an increase of 2.9 percent. Comparable sales for restaurants open for a year or more saw a 5.5% increase around the world. Analysts had been waiting for 3.6%.

Revenue however was a decline, at $5.14 billion from $5.68 billion a year ago, but it still beat expectations.

“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,” said CEO Steve Easterbrook. “More customers are recognizing that we are becoming a better McDonald’s.”

Disclaimer: We have no position in McDonald’s Corporation (NYSE: MCD) and have not been compensated for this article.