McDonald's topped global same-restaurant sales estimates for the second quarter today, with strength in international markets helping offset weakness in the US.
Restaurant chains in the US have been fighting for a bigger share of a slow-growing restaurant marketplace by offering dollar menus, discounts on drinks and limited-time menu items as well as freshly prepared meals to diners.
McDonald's quarterly sales at its US restaurants open for at least 13 months rose 2.6%, missing the average analyst estimate of 2.96% rise.
In contrast to its slowing US business, same-store sales for the company's international lead markets - comprising Australia, Canada, France, Germany and the UK - rose 4.9%, trouncing analysts' expectation of a 3.94% gain.
This helped McDonald's worldwide sales at stores open at least 13 months to rise 4% and top the average analyst estimate of 3.6%, according to Thomson Reuters.
The company said its net income rose to about $1.50 billion, or $1.90 per share, in the second quarter ended June 30 from about $1.40 billion, or $1.70 per share, a year earlier.
Excluding items, the company earned $1.99 per share, beating the estimate of $1.92.
Revenue fell 12% to $5.35 billion, but edged past expectations of $5.32 billion.
