Fast food giant McDonald's has reported that its net profit in the third quarter of this year was $1.4 billion, up 10% from the same period a year earlier.
The financial results were much better than expected. Earnings per share of $1.29 easily beat analysts' forecasts of $1.24. Revenue rose 4% to $6.3 billion.
The home of the 'golden arches' highlighted a 6% increase in global sales, with an 8.1% gain in the Middle East and Africa, a 5.3% rise in the United States, and a 4.1% rise in Europe.
Global operating profits jumped 8%. Operating profits were up 7% in the US on the back of promotion of new products such as McCafe Frappes and Smoothies, as well as McDonald's Dollar Menu, the company said.
The company was upbeat about the final quarter of 2010, noting that October global comparable sales were expected to increase by between 5% and 6%.
