McDonald's Q3 Profit Beats Estimates

McDonald's Corporation (MCD) said its third quarter global comparable sales increased 12.7% reflecting positive comparable sales across all segments. U.S. comparable sales were up 9.6%, for the quarter. The company declared a 7% increase in its quarterly cash dividend to $1.38 per share and also announced the resumption of its share repurchase program.

Third quarter non-GAAP earnings per share increased to $2.76 from $2.22, prior year. On average, 32 analysts polled by Thomson Reuters expected the company to report profit per share of $2.46, for the quarter. Analysts' estimates typically exclude special items.

Net income increased to $2.15 billion or $2.86 per share from $1.76 billion or $2.35 per share, last year.

Total revenues were $6.20 billion, an increase of 14% from prior year. Analysts expected revenue of $6.03 billion, for the quarter.

Shares of McDonald's were up 2% in pre-market trade on Wednesday.

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