McDonald's Corporation MCD delivered better-than-expected results for the third quarter, sending the stock higher in the pre-market trading on Friday.
While net income dipped 3 percent from $1.309 billion to $1.275 billion, EPS grew 7 percent from $1.40 to $1.50 and came in above the estimates of $1.49 a share.
Similarly, McDonald's revenues fell 3 percent from $6.615 billion to $6.424 billion. However, this is higher than the Street analysts' expectations of $6.28 billion.
Global comparable sales witnessed a growth of 3.5 percent reflecting favorable trend in all segments. In the United States, comparable sales grew 1.3 percent driven by everyday value under the McPick 2 platform and All Day Breakfast.
Commenting on the results, the company's president and CEO Steve Easterbrook said, "Customers today are more informed and demand greater choice and variety when they dine out. That's why we're evolving the McDonald's experience to provide more high quality, affordable food and beverage options and convenient solutions for customers on the go."
He added, "Our third quarter results, including our fifth consecutive quarter of positive comparable sales across all segments as well as improved restaurant profitability, are a testament to the progress we are making to satisfy the needs of today's dynamic customers."
Following the results, the stock traded up by 4.23 percent at $115.25 at last check in Friday's pre-market session.
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