posted better-than-expected sales in the first quarter as a new burger — and a continuing emphasis on value — brought in customers.
The company said its global same-store sales, or sales at locations open at least a year, rose 3.8% in the January-March period. That was better than the 3.7% increase Wall Street was expecting, according to analysts polled by FactSet.
McDonald’s shares rose nearly 3% before the opening bell Thursday.
The limited-time Big Arch burger —- a 1,610-calorie behemoth that went on sale in the U.S. last month — became a viral sensation after ²Ñ³¦¶Ù´Ç²Ô²¹±ô»å’s CEO Chris Kempczinski posted a video of himself taking a nibble from one. Kempczinski was mocked for his tentative bite. Tom Curtis, president of rival Burger King, posted his own video taking a vigorous bite of his chain’s new Whopper.
But the Big Arch did capture peoples attention. ²Ñ³¦¶Ù´Ç²Ô²¹±ô»å’s said U.S. customers spent more per visit in the first quarter than the same period a year ago.
²Ñ³¦¶Ù´Ç²Ô²¹±ô»å’s has leaned heavily into in the U.S. and abroad as prices, particularly gasoline prices, rise. Starting April 21, ²Ñ³¦¶Ù´Ç²Ô²¹±ô»å’s U.S. stores began offering 10 items that each cost less than $3.
The Chicago chain said its revenue rose 9% in the first quarter to $6.52 billion. That was also higher than the $6.47 billion Wall Street was expecting, according to FactSet.
²Ñ³¦¶Ù´Ç²Ô²¹±ô»å’s net income rose 6% to $1.98 billion. Adjusted for one-time items, the company earned $2.83 per share. That was also higher than analysts’ forecast of $2.74.
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