McDonald’s said its fourth-quarter earnings rose 10 percent and a key sales metric grew much faster than Wall Street’s expectations, as all-day-breakfast and mild weather drew more customers into the world’s largest burger chain.
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Sales at established stores, a key barometer of restaurant health, rose 5.7 percent in the U.S. – the second straight quarterly increase after two years of declines. Across the globe, sales at established restaurants, which does not include units open less than 13 months, rose 5 percent.
The Oak Brook-based company earned $1.21 billion, or $1.31 per share in the fourth quarter, compared with $1.09 billion, or $1.13 per share, in the same quarter a year ago.
Revenue fell 4 percent to $6.34 billion.
McDonald’s launched all-day breakfast in October, and said its momentum drove the U.S. business. . McDonald’s also credited its results to “bold, urgent action” it took last year to improve its then-struggling business, including cutting expenses, re-franchising some of its restaurants and giving more money back to shareholders.
Shares jumped more than 3 percent on the results before the opening bell.
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