McDonalds Corp (NYSE:MCD) shares opened in Wall Street at record highs after its second quarter results fried estimates.
Shares rose 4.29% to US$158.43 in early deals in New York.
EPS for the three months was 1.70 cents compared to 1.62 cents expected by Wall Street analysts.
Revenue was a whopping $6.05bn compared to $5.96 billion expected.
Same-store sales rose for the eighth quarter in a row, and its US gain of 3.9% beat analysts’ estimate of 3.2%.
The figures are sure to delight relatively new chief executive Steve Easterbrook who has been battling against falling diner numbers for the last two years.
Drink deals and upgraded sandwiches were cited as the reason for the rise in traffic in the latest quarter.
In March, McDonald’s said it had lost over 500 million transactions in its home market since 2012.
#McDonalds beats on earnings after slashing prices on soda and coffee $MCDhttps://t.co/wgTPqEtJJJ pic.twitter.com/a44OySaZPr
— Yahoo Canada Finance (@YahooFinanceCA) July 25, 2017