McDonald's Q3 results: Revenue jumps 14% at $6.69 billion

The burger chain McDonald's Corp. on Monday reported better-than-expected sales in the third quarter ended September  30, boosted by popular promotions.

The company said that its global same-store sales — or sales at locations open at least a year — rose 8.8% in the July-September period. In the US, same-store sales surged 8.1%.

McDonald's reported revenue 14% higher at $6.69 billion.

Its net income — which included a $26 million charge for a restructuring announced last spring —jumped 17% to $2.3 billion.

The Chicago-based company earned $3.17 per share for the third quarter.

Its sales rose despite McDonald's raised prices on some menu items in the US. But it also drew customers with promotions like a 50-cent double cheeseburger on National Cheeseburger Day in September. 

In the UK, McDonald's offered discounts throughout August, including 60% off on Big Macs or Chicken McNuggets.

Footfall strength at the company tapered off in August and September - recording declines of 1.1% and 3.7%.

“With global Systemwide sales growth of 11%, our third quarter results reflect our position of strength as the industry leader,” said McDonald's president and chief executive officer Chris Kempczinski.

“The macroeconomic environment is unfolding in line with our expectations for the year, and we continued to deliver convenience and value for our customers,” said Kempczinski.

The fast food chain’s gross margin fell 57.7% in the third quarter from 58.7% in the same quarter last year.In March, the company had said it would release a report next year that will examine both the negative and positive environmental impacts of reusable packaging across its restaurants globally. It serves fries, Happy Meals, burgers and drinks in reusable containers for meals served on-site in its French outlets and upon request for takeout in Germany. 

Shares of McDonald's rose almost 3% in the pre-market trade on Monday.