McDonald’s all-day breakfast offering seems to be a hit with customers.
The fast-food giant, which began serving breakfast round-the-clock in October, saw same-store sales jump 5.7% in the fourth quarter of 2015. Analysts had projected growth of only 2.7%.
Overall, McDonald’s posted a profit of $1.21 billion during the quarter, or $1.31 per share. That’s up from $1.1 billion a year earlier. Revenue was $6.34 billion, down 3.5% from a year earlier.
Analysts had projected earnings of just $1.23 per share and revenue of $6.22 billion for the quarter.
McDonald’s has faced stagnant sales in recent years, but now appears to be in the midst of a turnaround. The results were the chain’s best in the U.S. in almost four years, according to The Wall Street Journal. CEO Steve Easterbrook, at the helm since early 2015, has already brought big changes to the company, including the expanded breakfast offerings as well as improved wages and benefits for workers at company-owned stores.
McDonald’s shares were trading up 2.5% Monday morning following the earnings report.
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