McDonald's profit meets estimates

Fast-food chain's third-quarter income boosted by a sales surge in its international markets, new menu offerings.


NEW YORK (CNNMoney.com) -- McDonald's Corp. posted a third-quarter profit Friday that met Wall Street estimates, helped by a sales boost in its overseas markets and new menu items, including breakfast offerings and sandwiches.

McDonald's (Charts, Fortune 500), the world's largest fast-food chain, said third-quarter profit rose to $1.07 billion, or 89 cents a share, from $843.3 million, or 68 cents, a year earlier.

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But excluding a gain from the sale of its Boston Market unit, earnings came in at 83 cents, in line with analysts' forecasts. Revenue came in at $5.9 billion, slightly below expectations.

Analysts, on average, had forecast a profit of 83 cents on sales of $6 billion, according to Thomson Financial.

The company said sales at its restaurants open at least a year, also known as same-store sales, jumped 11.4 percent in the Asia/Pacific, Middle East and Africa group, the highest quarterly performance in that regional combination in 10 years.

Its global same-store sales rose 6.9 percent in the quarter, marking the fast-food chain's seventh consecutive quarter of same-store sales gains.

McDonald's did not break out its same-store sales in its key U.S. market but said in a statement that its domestic operations "generated strong operating income growth despite industry-wide commodity and labor headwinds."

McDonald's is expected to hold a conference call with analysts Friday to discuss its results. Top of page

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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: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. 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 2018 and/or its affiliates.