McDonalds (MCD) has taken the globe by storm. The familiar golden arches can be spotted in 120 countries at 36,899 restaurants worldwide. The restaurant serves over 68 million customers each day. And ETFs with McDonalds exposure are reacting to a better than expected earnings report released Monday.
McDonalds Increases Prices
When Mickey D’s rose their prices, investors weren’t so sure what to expect. However, they were pleasantly surprised when higher prices on the McDonald’s menu led to surprisingly strong comparable-store sales, sending shares up in early trading Monday.
McDonald’s stock rose Monday after beating first-quarter forecasts across the board as U.S. sales got a boost from price hikes. Earnings per share of $1.67, up 14%, as revenue falls 13% to $4.915 billion. Same-store sales are expected to rise 3.8%.
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According to Fox Business, “McDonald’s earned $1.38 billion, or $1.72 per share, for the period ended March 31. A year earlier, the hamburger chain earned $1.21 billion, or $1.47 per share.”