McDonald’s (MCD) reported strong sales during the first quarter.
Same-store sales, a key metric for restaurants, grew at 4.5% domestically, while analysts anticipated roughly 3% same-store sales growth.
Global same-store sales were also stronger than expected - jumping 5.4% during the quarter. Analysts were estimating about 3.5% growth globally.
“We started the year strong with our 15th consecutive quarter of positive global comparable sales, reflecting continued broad-based momentum across each of our global segments,” CEO Steve Easterbrook said in a statement. “We remain focused on running better restaurants and elevating the experience for our customers by providing convenience on their terms through delivery, Experience of the Future, and our evolving digital channels.”
McDonald’s has been aggressively working on its digital plan to help boost sales and bring back customers. During the first quarter, the McDonald’s announced that it had acquired a company called Dynamic Yield, which focuses on using technology to personalize customer experiences. McDonald’s will be using Dynamic Yield’s tech to create a unique experience for customers who use the drive-thru experience at its restaurants.
The burger giant earned $1.78 per share, exceeding consensus estimates for $1.75 per share, according to data compiled by Bloomberg.
Meanwhile, revenue during the quarter came in at $4.96 billion. Analysts were expected McDonald’s to report revenue of $4.93 billion.
McDonald’s shares were soaring 3% in pre-market trade Tuesday. The earnings conference call will kick off at 11 a.m. ET.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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