McDonald’s shares (MCD) jumped 2.75% on Wednesday amid reports of excellent Q4 performance. The fast-food giant’s performance was especially good overseas, where they report strong growth.
The fast-food superpower has been concerned over rising labor costs and other expenses such as store remodeling. The strong US dollar was also expected to weigh more heavily on international sales. Despite this news, the company is struggling in its own domestic market, where competition is getting more fierce. Promotions from rival chains, including deals cut with Uber Eats, have left the fast-food industry more competitive in the US.
McDonald’s earned $1.97 per share in the fourth quarter, which was $0.08 above forecasts according to Bloomberg. The quarter also saw sales reach $5.16 billion, just $1 million short of Wall Street predictions. Global sales are up 4.4%, a sizable increase which exceeded expectations. US growth came up to 2.3%, just shy of the 2.4% expected.
