McDonald’s Beats Analysts’ Estimates In Third Quarter Results

McDonald’s CEO Steve Easterbrook is surely beloved by the restaurant chain’s investors now. 

Reuters reports that the company has posted significant increase in its net income by USD1.3 billion or USD1.40 per share in the third quarter ended Sept. 30. In the same quarter last year, McDonald’s generated only USD1.07 billion or USD1.09 per share. McDonald’s recorded a 4 percent increase in global comparable sales, which is the first in more than 12 months, surpassing analysts’ expectations of 1.9 percent. 

Media sites, including Bloomberg, credits the strategies spearheaded by Easterbrook since his assumption to the CEO role in March. After taking the helm, McDonald’s has simplified its restaurant menu, raised wages to improve customer service, and has been working on initiatives to improve health and nutrition in their food. 

"The return to positive same-store sales across all of the operating segments is huge progress for their turnaround plan," Jennifer Bartashus, an analyst said at Bloomberg Intelligence.