McDonald's shares rise on strong profit
McDonald's Corp posted a stronger-than-expected quarterly profit on Thursday, helped by cost controls and rising sales in all regions, and expects same-store sales to remain positive in October even though people eat out less often.
Shares of the world's largest hamburger chain rose 2 percent in premarket trading.
McDonald's and some other fast-food chains have been outperforming other restaurant companies due to their lower-priced fare, but rising unemployment is erasing that advantage.
McDonald's third-quarter net income rose to $1.26 billion, or $1.15 a share, from $1.19 billion, or $1.05 a share, a year earlier.
Analysts on average expected the company to earn $1.11 per share, according to Thomson Reuters I/B/E/S.
(Reporting by Ben Klayman; Editing by Lisa Von Ahn)
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