McDonald's Same-Store Sales Drop, But Beat Lowered Expectations

McDonald's Corporation MCD on Monday announced comparable sales, showing a drop of 0.5 percent in October.

The United States was lower by 1 percent, although better than last month's 4.1 percent decrease. Europe was down 0.7 percent, while Asia/Pacific, Middle East and Africa (APMEA) showed the biggest drop at 4.2 percent. The Other Countries and Corporate Segment, which includes Canada and Latin America, came in positive, providing a boost to comparable sales.

Although global sales showed a decrease, the drop was less than expectations of a 2.2 percent decrease.

Shares were higher by about 1 percent at $96.00 in the pre-market session.