Fast-food giant McDonald's Corp. (MCD) reported Thursday a profit for the first quarter that increased 39 percent from last year, reflecting stronger operating performance in the U.S. due to higher sales-driven restaurant margins. Global comparable sales also grew 7.5 percent. Adjusted earnings per share topped analysts' expectations, while quarterly revenues missed it.
"Our first quarter 2021 global comparable sales and revenues surpassed first quarter 2019 levels, even as resurgences and operating restrictions persist in many parts of the world," said McDonald's President and CEO Chris Kempczinski.
For the first quarter, the company reported net income of $1.54 billion or $2.05 per share, up 39 percent from $1.11 billion or $1.47 per share in the prior-year quarter.
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