McDonald’s (MCD) reported second quarter outcomes Thursday that beat Wall Road expectations throughout the board as its “culturally related model and advertising campaigns” powered robust ends in the US market, which noticed its viral Grimace Shake take off in June.
The corporate reported international same-store gross sales that rose 11.7%, greater than the 9.4% anticipated by analysts. US same-store gross sales rose 10.3%, greater than 9.1% forecasted by Wall Road.
Income within the quarter totaled $6.5 billion, topping forecasts for $6.3 billion. Adjusted earnings per share got here in at $3.15, greater than the $2.78 analysts had been anticipating, based on Bloomberg knowledge.
McDonald’s additionally incurred a pre-tax restructuring cost of $18 million, or $0.02 per share for the quarter and $198 million, or $0.20 per share, for the six months ending June 30, primarily associated to its restructuring plan that noticed the corporate lay off an undisclosed variety of employees in early April.
Identical-store gross sales additionally beat forecasts internationally, with the corporate’s Worldwide Operated Markets phase recording same-store gross sales that rose 11.9% over final 12 months whereas Worldwide Developed Licensed Markets gross sales rose 14%. Wall Road anticipated gross sales in these segments to rise 8.3% and 11.3%, respectively.
The corporate additionally reported systemwide digital gross sales — which embrace gross sales at company-owned and franchised eating places — totaled $8 billion throughout its six largest markets.
In a press release, McDonald’s CEO Chris Kempczinski stated, “Whereas macroeconomic challenges persist, we proceed to put money into our development drivers and our model to fulfill the client must tomorrow.” Earlier this 12 months, McDonald’s shared plans to open 1,900 new places this 12 months, its largest initiative transfer since 2014.
Within the US, McDonald’s stated gross sales “benefited from strategic menu value will increase and optimistic visitor counts.”
Although the corporate didn’t point out its Grimace promotion by identify, it stated, “Profitable restaurant degree execution, culturally related model and advertising campaigns and continued digital and supply development contributed to robust comparable gross sales outcomes.”
Younger shoppers, notably Gen Z, flocked to social media to point out themselves consuming the limited-edition purple, berry-flavored milkshake.
Brooke DiPalma is a reporter for Yahoo Finance. Comply with her on Twitter at @BrookeDiPalma or e-mail her at bdipalma@yahoofinance.com.
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