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McDonald's stock rises as earnings beat, U.S. restaurants show improvement
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McDonald's on Wednesday reported mixed quarterly results as traffic to its U.S. restaurants fell, leading to a slight decline in domestic same-store sales.
The fast-food giant reported a 0.2% decrease in sales at its U.S. restaurants that have been open at least 13 months. Even so, the segment performed better than the 0.5% decline that Wall Street anticipated, according to a survey of analysts by StreetAccount.
"In the U.S., we're encouraged by improvement as the quarter progressed following our intervention on value," McDonald's CEO Chris Kempczinski said in a statement.
McDonald's same-store sales returned to growth in September after falling in July and August, CFO Ian Borden said on the company's earnings conference call.
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