CHICAGO (AP) — CHICAGO (AP) — McDonald’s Corp. (MCD) on Tuesday reported first-quarter profit of $1.8 billion.
On a per-share basis, the Chicago-based company said it had net income of $2.45. Earnings, adjusted for restructuring costs, were $2.63 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share.
The world’s biggest hamburger chain posted revenue of $5.9 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $5.58 billion.
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