: McDonald’s stock jumps after profit, revenue and same-store sales all beat expectations

Shares of McDonald’s Corp. MCD jumped 3.2% toward a one-month high in premarket trading Monday, after the fast-food restaurant giant reported third-quarter profit and revenue that rose above expectations. Net income rose to $2.32 billion, or $3.17 a share, from $1.98 billion, or $2.68 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $3.19 beat the FactSet consensus of $3.00. Revenue grew 14% to $6.69 billion, above the FactSet consensus of $6.56 billion, as same-store sales growth of 8.8% beat expectations for an 8.0% rise. In the U.S., same-store sales increased 8.1%, boosted by higher menu prices, to top expectations of 7.5% growth. “The macroeconomic environment is unfolding in line with our expectations for the year, and we continued to deliver convenience and value for our customers,” said Chief Executive Chris Kempczinski. The stock has dropped 13.0% over the past three months through Friday, while the Dow Jones Industrial Average DJIA has lost 8.6%.

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