McDonald’s Corp’s turnaround gained momentum in the latest quarter as sales at established restaurants beat analysts’ estimates, sending the company’s shares up 3.6 percent in premarket trading on Friday.
Global sales at restaurants open at least 13 months rose 3.5 percent in the third quarter ended Sept. 30. Analysts polled by research firm Consensus Metrix had expected a gain of 1.5 percent.
The burger chain reported net income of $1.28 billion, or $1.50 per share, in the quarter, compared with $1.31 billion, or $1.40 per share, a year earlier.
The company had 87.1 million fewer shares in the quarter, compared with the year-earlier period.