Fast food chain McDonald’s posted results for its past quarters which were better than expected. Particularly the launch of its all-day breakfast in the United States contributed a lot to the company’s growth.
Strong profit growth
Since October 2015, McDonald’s gives its customers an opportunity to have breakfast, no matter what time of day it is. The move was intended to compete with chains like Wendy’s, Starbucks and Burger King, which have all had all-day breakfast options for a while.
That has resulted in better-than-expected results in the United States, with like-for-like turnover up 5.7 %, while analysts had expected a mere 2.7 % increase. There was growth in other markets as well, like China and Russia, but McDonald’s failed to give any specifics.
Worldwide turnover did drop 3.5 % to 6.34 billion dollars (5.85 billion euro), mainly because of the stronger dollar. However, that turnover was still better than forecasts, as those targeted a 6.22 billion dollar (5.74 billion euro) turnover. Net profit grew 9.9 % to 1.21 billion dollars (1.12 billion euro).
