Restaurant Brands International (TSX:QSR, NYSE:QSR) shares rose 1.5% in premarket trading after the company reported robust quarterly sales and profit, surpassing market expectations.
Per share earnings came in at 85 cents for the three months ended June 30, beating Wall Street estimates of 77 cents.
The financial performance was attributed to increased demand at Burger King and consistent performance at Tim Hortons (TSX:THI), the Canadian coffee chain.
Burger King's 'Reclaim the Flame' initiative saw a $12 million investment in Q2, with a significant portion allocated to advertising.
This strategy appears to have borne fruit (or patties at least), with the US operation reporting an 8.3% rise in comparable sales, outpacing the predicted 4.5% growth.
Tim Hortons (TSX:THI) also witnessed a 12.5% surge in comparable sales in Canada, driven by improved mobility and popular breakfast offerings.
Globally, the company's same-store sales grew by approximately 10%, exceeding the 5.75% estimate.
Ahead of the opening bell, the stock was up $1.09 at $74.55.