McDonald's New Promotions Give The Chain A Sales Boost In Q3

Shares of McDonald's Corporation MCD initially jumped higher after its third-quarter earnings report but gave back all of its gains and was trading lower by around 0.27 percent. The fast-food restaurant chain said it earned $1.76 per share in its third quarter on revenue of $5.755 billion. Wall Street analysts were expecting the company to earn $1.77 per share on revenue of $5.74 billion.

Here are some highlights from the earnings report:

• Consolidated revenue fell 10 percent year-over-year due to the impact of its strategic refranchising initiative.
• Total systemwide sales rose 7 percent in constant currencies.
• Global comparable sales rose 6.0 percent.
• Comparable sales rose 4.1 percent in the U.S. due to strong demand from value promotions.
• Comparable sales for the international lead segment rose 5.7 percent.
• Comparable sales for the high growth segment (including China) rose 6.2 percent.
• Comparable sales for the Foundation markets rose 10.2 percent.
• During the quarter, McDonald's reached its target of re-franchising 4,000 restaurants in China and Hong Kong.
• McDonald's returned $2.9 billion to investors through share repurchases and dividends.
• McDonald's also announced an increase of 7 percent to its quarterly dividend (now $1.01 per share) beginning in the fourth quarter.

"We are serving more customers, more often by offering great tasting food at a good value with the quick service and friendly hospitality they expect from McDonald's," said McDonald's president and CEO Steve Easterbrook in a press release. "Our positive comparable sales and guest counts across all of our operating segments during the third quarter demonstrate broad-based momentum throughout our business that builds upon our strong first half of 2017."

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Earnings Scheduled For October 24, 2017