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 16,805.41 127.51 0.76%
Nasdaq 4,483.72 30.92 0.69%
S&P 500 1,964.58 13.76 0.71%
Treasuries 2.27 -0.00 -0.09%
Data as of 3:29am ET
Company Price Change % Change
Ford Motor Co 13.78 -0.62 -4.31%
Microsoft Corp 46.13 1.11 2.47%
Apple Inc 105.22 0.39 0.37%
Bank of America Corp... 16.72 0.12 0.72%
Yahoo! Inc 43.50 0.90 2.11%
Data as of Oct 24

Sections

New York headlines took a straight forward and direct approach with NYC's Ebola news. More

The midterm elections are around the corner, and the economy remains a top concern. With unemployment down and inflation low, why do people still feel the economy stinks? More

Shares of Facebook recently topped $80. They've more than quadrupled from their post-IPO lows of two years ago. Can Mark Zuckerberg keep the momentum in mobile going? More

Host a furniture market. Here's how small town High Point, N.C. rakes in this much money -- twice a year. More

If you're looking to fly this holiday season, the clock's ticking to get the best prices. 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.