McDonald's Beats as Cheaper Menu Drives Demand

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McDonald's beat Wall Street estimates for third-quarter profit and sales Monday, powered by new launches as well as steady demand for its cheaper burgers and fries from diners struggling with still-high food prices.

Shares of the company, which also raised its quarterly cash dividend by 10%, rose about 2% in premarket trading.

Global comparable sales at McDonald's jumped 8.8% in the quarter ended Sept. 30, while analysts on average expected a 7.36% rise, according to LSEG data. Footfall strength at McDonald's tapered off in the next two months - recording declines of 1.1% and 3.7% - but remained ahead of the broader industry trends.

 

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