US fastfood giant McDonald’s has reported a 42% rise in third-quarter earnings, as its new menu offerings continued to drive strong sales in the US.
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The company reported net income of US$779.4m, or 61 cents per share, for the third quarter to 30 September, compared to $547.4m, or 43 cents per share, in the same period of the previous year.
Revenues rose 9% to $4.93bn from $4.50bn a year earlier, an increase of 6% at constant currencies. Comparable sales increased 5.8% for the quarter. Operating income increased 14% (10% in constant currencies) to $1.1bn.
“McDonald’s Plan to Win and our focus on quality food, menu variety, compelling marketing, and outstanding customer service continue to drive global performance. For the third consecutive quarter, we increased customer visits, improved margins and delivered double-digit growth in earnings,” said president and CEO Charlie Bell.
Bell said McDonald’s US results were strong, especially in the face of increasingly difficult year-over-year comparisons. In Europe, however, high unemployment and low consumer confidence in Germany continue to impact growth.
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By GlobalData“We are leveraging the strengths of our everyday value offerings to attract more customers in this challenging economic environment. In the UK, we are starting to make progress renewing consumer excitement in our brand with enhanced food taste and variety and improved service. I am confident that we have the initiatives in place to optimise the long-term performance of this critical business segment,” Bell said.
