Investing.com - McDonald’s (NYSE:MCD) rode sustained strength in U.S. consumers' demand in the second quarter, as a 5.7% rise in comparable U.S. sales drove both revenue and earnings higher from a year earlier.
The firm reported earnings per share of $2.05 on revenue of $5.34 billion, both largely in line with the expectations of analysts polled by Investing.com. Earnings were slightly up from $1.99 a year earlier, while revenue was a fraction lower, although that represented a 3% increase when adjusted for the dollar's fluctuations over the year. Revenue was hit slightly by impacts from refranchising, the company said.
"With the strong results we achieved in the second quarter, we have now experienced 16 consecutive quarters of positive global comparable sales," chief executive Steve Easterbrook said in a statement.
In the U.S., comparable-store sales rose 5.7%, due partly to the popularity of the 2 for $5 Mix and Match deal in its restaurants.
McDonald’s shares rose 1.9% to trade at $218.50 in pre-market trade following the report.
McDonald’s follows other major Services sector earnings this month
On Thursday, Amazon.com reported second-quarter EPS of $5.22 on revenue of $63.4B, compared to forecasts of EPS of $5.56 on revenue of $62.47B.
Visa A earnings beat analysts' expectations on Wednesday, with third-quarter EPS of $1.37 on revenue of $5.84B. Investing.com analysts expected EPS of $1.32 on revenue of $5.7B
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