Hot products such as “Minecraft” themed meals helped McDonald's sell down in the second quarter.
The Chicago burger giant said Wednesday that its revenue rose 5% to $6.8 billion between April and June. Analysts who conducted the survey said that this is higher than Wall Street's $6.7 billion forecast.
Sales from same-store sales or at least one year opening increased by nearly 4%. Analysts forecast a 1% drop.
McDonald's shares rose 3% in Wednesday's listing trading.
This is a First quarterWhen sales of our same-stores around the world collapsed, McDonald's said low- and middle-income consumers were cutting fast food.
But a meal related to “Minecraft Movies,” which is available in 100 countries since April, driving customers back to the store. McDonald's said it sold out its collectible numbers in less than two weeks.
McDonald's new McCrispy Chicken Strips also increased customer traffic after it was added to the menu in May.
During the April-June period, some competitors performed poorly. Yum Brands, the parent company of KFC, Taco Bell and Pizza Cabin, reported revenues lower than expected on Tuesday and said KFC's same-store sales in the U.S. fell by 5%, last month, Chipotle lowered its full-year same-store sales guide after disappointing store sales fell by 4% in the second quarter.
McDonald's net revenue rose 11% in the second quarter to $2.25 billion. The company has adjusted for restructuring fees and other one-time projects, with revenue of $3.14 per share. This is consistent with Wall Street's predictions.