Traffic at McDonald’s restaurants was surprisingly strong during the first quarter, pushing the world’s biggest burger chain far past Wall Street expectations.
The company, based in Oak Brook, Illinois, posted earns of $1.38 billion, or $1.72 per share. Earnings, adjusted for pretax expenses, came to $1.79 per share, which is way better than the per-share earnings of $1.67 that industry analysts had projected, according to a poll by Zacks Investment.
Revenue was $5.14 billion, also edging out forecasts.
Shares of McDonald’s Corp. rose almost 4 percent before the market opened Monday.
Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCD at https://www.zacks.com/ap/MCD