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Apr, 26 2017

​McDonald's shares remarkably rises in the first quarter

McDonald's shares have risen 10 per cent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 per cent.

McDonald's says a key sales figure rose in the first quarter, including in the flagship US market where it has been promoting different sizes of Big Macs and drink deals.

One of the world's largest burger chain says global sales rose 4 per cent at established locations. In the US, the figure rose 1.7 per cent as the company pushes to revive its business by improving the image of its food.

The push includes plans to use fresh instead of frozen beef for its Quarter Pounders starting sometime next year.

The Oak Brook, Illinois company did not immediately say whether the higher sales in the US reflected higher customer visits, higher average spending per visit, or a mix of both. 

McDonald's has said it would work on increasing customer visits, after suffering four straight years of declines in the metric. But it noted that its US business "continues to focus its efforts on driving guest count growth."

For the quarter, McDonald's Corp. reported a profit of $1.21 billion, or $1.47 per share. Analysts expected $1.32 per share, according to Zacks Investment Research.

Total revenue was $5.68 billion, also beating the $5.48 billion analysts expected.

McDonald's shares have risen 10 per cent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 per cent.

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