McDonald's stock soars to record high

mcd.top.pngClick the chart to track McDonald's stock. By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- McDonald's Corp.'s third-quarter profit soared 10% to trounce expectations, and shareholders are lovin' it. The fast-food behemoth's stock continued to surge in record territory Thursday, nearing $80 a share.

McDonald's posted a net income of $1.4 billion, or $1.29 per share, for the three months ended Sept. 30, and revenue jumped 4% to $6.3 billion. Same-store sales, which measure sales at its stores open at least a year and are a key performance gauge, rose 6%.

The company's stock jumped 2.6% to an all-time high of $79.48 following the news. Shares of McDonald's have been climbing to new records day after day during last two months, and the stock is up more than 30% this year, leaving rivals Burger King and Wendys/Arbys Group Inc. (WEN) in the dust.

Despite the sluggish economy, Mickey D's been able to thrive by broadening its appeal and introducing new items to the menu, including the McCafe Frappes and Smoothies.

McDonald's CEO Jim Skinner said he is confident that the momentum will continue and expects same-store sales in October to increase between 5% and 6%.

Analysts polled by Thompson Reuters expect McDonald's will earn $4.9 billion in 2010, up more than 7% from net income of $4.6 billion in 2009.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,804.80 26.65 0.15%
Nasdaq 4,765.38 16.98 0.36%
S&P 500 2,070.65 9.42 0.46%
Treasuries 2.18 -0.03 -1.27%
Data as of 10:17am ET
Company Price Change % Change
Bank of America Corp... 17.62 0.09 0.51%
Apple Inc 111.78 -0.87 -0.77%
General Electric Co 25.62 0.48 1.91%
Intel Corp 36.37 -0.65 -1.76%
Microsoft Corp 47.66 0.14 0.29%
Data as of Dec 19

Sections

New York Magazine reporter Jessica Pressler, who has been caught up in controversy this past week, will not be moving on to a new job at Bloomberg News. More

Investors beware: These 5 global crises are likely to rattle the stock market and world economy. More

Forums in dark corners of the web sell the kinds of hacks that befell Sony. More

Unilever sued Hampton Creek over its egg-free mayonnaise spread Just Mayo. But the company behind Best Foods and Hellman's mayonnaise has now dropped the lawsuit. More

The income of the top 1% jumped significantly in 2012, far outpacing inflation. Not only did this group make a larger share of the country's income, their share of total taxes also jumped from 35% to 38%. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.