McDonald's Corp (NYSE:MCD) reported double-digit growth in revenue and net income supported by price rises and solid international growth.
The multi-national fast food chain said revenue in the third quarter revenue rose 14% to $6.70 billion from $5.87 billion, net income increased 17% to $2.32 billion from $1.98 billion, and diluted EPS climbed to $3.17 from $2.68.
McDonald's president and chief executive Chris Kempczinski said the results “reflect our position of strength as the industry leader.”
The firm said like-for-like sales benefited from strategic menu price increases, effective marketing and continued digital and delivery growth.
Global comparable sales increased 8.8%, reflecting strong comparable sales across all segments.
US sales increased 8.1%, the International Operated Markets segment increased 8.3% and the International Developmental Licensed Markets increased 10.5%.
International sales saw strong sales in most markets, led by the UK, Germany and Canada.
McDonald’s also declared a 10% increase in its quarterly cash dividend to $1.67 per share.
Shares rose 3.1% in pre-market trading to $263.45.