Why McDonald's Shares Are Trading Higher Today

McDonald's Corp MCD is trading higher after the company announced better-than-expected third-quarter financial results.

McDonald's reported quarterly adjusted earnings of $2.76 per share, which beat the estimate of $2.46 per share. The company reported quarterly revenue of $6.2 billion, which beat the estimate of $6.03 billion.

McDonald's reported that global comparable sales were up 12.70% in the third-quarter, representing a 10.20% increase over a 2-year period.

"Our third quarter results are a testament to our unparalleled scale and agility," said Chris Kempczinski, president and CEO of McDonald's. "Our global comparable sales increased 10% over 2019, which was delivered across an omnichannel experience that is focused on meeting the needs of our customers."

"We continue to execute our strategic growth plan and run great restaurants so that we can drive long-term, sustainable growth for all of our stakeholders," Kempczinski added. 

MCD Price Action: McDonald's has traded as high as $249.95 and as low as $202.73 over a 52-week period.

The stock was up 3.02% at $243.56 at time of publication.

Photo: andreas160578 from Pixabay.