McDonald's beats sales estimates as cheaper menu, new launches drive demand
© Reuters. FILE PHOTO: McDonald's Golden Arches are seen next to a Starbucks at the Union Square location in New York January 29, 2015. REUTERS/Brendan McDermid/File Photo -McDonald's beat Wall Street estimates for third-quarter profit and sales on Monday, powered by new launches as well as steady demand for its cheaper burgers and fries from diners struggling with still-high food prices.
The burger giant has been able to keep its meals relatively more affordable following the industry-wide hike in prices last year, helping counter the trend of inflation-hit consumers opting to eat more at home and a decline in footfall.) 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 the company 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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