Shares of McDonald’s Corp. (NYSE: MCD) gained in pre-market trading on Tuesday after the fast food chain reported adjusted earnings in the first quarter of $2.63 per share, an increase of 15% year-over-year and beating consensus estimates of $2.33 per share.
Sales increased by 4.1% year-over-year to $5.9 billion and surpassing consensus estimates of $5.58 billion. Comparable sales rose by 13% in the first quarter, both globally and across each segment. Moreover, digital systemwide sales in the chain’s top six markets were around $7.5 billion for the quarter, representing approximately 40% of McDonald’s systemwide sales.
Analysts are bullish about MCD stock with a Strong Buy consensus rating based on 24 Buys and five Holds.
