Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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

Index Last Change % Change
Dow 16,877.21 87.02 0.52%
Nasdaq 4,782.44 34.08 0.72%
S&P 500 1,993.05 13.13 0.66%
Treasuries 2.08 0.04 2.01%
Data as of 2:01pm ET
Company Price Change % Change
Freeport-McMoRan Inc... 12.93 1.10 9.30%
Bank of America Corp... 15.72 0.04 0.22%
General Electric Co 27.64 0.36 1.30%
Apple Inc 110.27 -1.04 -0.93%
Micron Technology In... 18.65 0.43 2.36%
Data as of 1:46pm ET


These two fantasy football players won more than $100,000 on FanDuel and DraftKings earlier this NFL season. Now they sound off on the cheating scandal rocking the industry. More

A new analysis from the Bipartisan Policy Center estimates the U.S. Treasury will not be able to pay all the country's bills in full and on time sometime between Nov. 10 and Nov. 19. More

Saudi billionaire Prince Alwaleed Bin Talal has increased his stake in Twitter, days after the social network named Jack Dorsey as its permanent CEO. More

Smarties, a Halloween candy staple, have been around for 66 years. Three Millennial women are revolutionizing it. More

The city council of the District of Columbia is weighing a new proposal that would mandate up to 16 weeks of paid family leave for family bonding or a serious personal or family medical issue. More