McDonald’s revenue increases 14% as US sales are boosted by price increases

Price increases helped McDonald’s U.S. sales on Monday, as the company reported quarterly earnings and revenue that exceeded analysts’ projections.

In premarket trading, the company’s shares increased by more than 2%.

Based on an analyst survey conducted by LSEG, formerly known as Refinitiv, the following represents how the company’s report compares to what Wall Street was anticipating:

• Earnings per share: $3.19 adjusted vs. $3 expected
• Revenue: $6.69 billion vs. $6.58 billion expected

The fast-food giant revealed net income for the third quarter of $2.32 billion, or $3.17 per share, compared to $2.98 billion, or $2.68 per share, in the same period last year.

McDonald’s earned $3.19 per share when items were excluded.

Sales at McDonald’s increased 14% to $6.69 billion.

Compared to StreetAccount’s forecast of 7.8%, global same-store sales increased by 8.8% during the quarter.

Strategic price increases propelled the company’s 8.1% increase in same-store sales in the United States.

The amount that McDonald’s prices have increased in comparison to the same period last year was not disclosed. The chain also attributed its increased sales to its digital and delivery orders, as well as its marketing campaigns.

Strong demand in the UK, Germany, and Canada helped McDonald’s international operated markets division report same-store sales growth of 8.3%.

China and Japan are included in the company’s international developmental licensed markets segment, which experienced a 10.5% increase in same-store sales.

In a statement, CEO Chris Kempczinski stated that the state of the economy as a whole is developing by the company’s projections for the year.