Hamburger chain McDonald's today posted preliminary second-quarter earnings that topped analysts' expectations as June sales at restaurants open at least 13 months rose 5.9 per cent.
Shares of the world's largest fast food operator rose 2.2 per cent on the Inet electronic broker system early today.
The company said it earned 67 cents a share for the second quarter, including 10 cents a share in income from the sale of shares in Chipotle Mexican Grill and an expense of 2 cent a share from a tax law change.
For June same-restaurant sales, two analysts expected increases of 3.8 per cent and 4.7 per cent, according to research reports. Same-restaurant sales rose 5.5 per cent in the second quarter.
Same-restaurant sales rose 5.2 per cent in the United States in June on strong breakfast sales. US same-restaurant sales were up 4.2 per cent for the quarter.
In Europe, same-restaurant sales rose 4.5 per cent in June and were up 6.3 per cent in the quarter. McDonald's shares rose 71 cents at $33.75 on Inet.