McDonald's Corp. reported second quarter earnings that were in line with analysts’ expectations, while the fast food chain’s comparable store sales surpassed expectations.
The company’s adjusted earnings for the three months ending in June came in at $2.05 per share, up 6 cents from the same period last year and largely matching the Street consensus estimates.
Total revenues declined -0.4% year-over-year to $5.34 billion, but exceeded analysts' estimates of $5.32 billion.
Yea-over-year growth in global same-store sales came in at 6.5% in the quarter. Comparable U.S. sales grew +5.7%, a faster rate than the Street estimate of +4.5%.
CEO Steve Easterbrook emphasized that the restaurant chain has now experienced 16 consecutive quarters of positive global comparable sales.