McDonald's Q1 profits soar as Big Arch burger and value menu drive sales
McDonald’s has reported strong financial results for the first quarter of the year. Revenue climbed 9% to $6.52 billion, beating expectations of $6.47 billion. The fast-food giant also saw a 6% rise in net income, reaching $1.98 billion. The company’s global same-store sales grew by 3.8% between January and March, slightly above the 3.7% forecast by analysts. In the U.S., customers spent more per visit compared to the same period last year, helped by the success of the limited-time Big Arch burger. The burger gained attention after CEO Chris Kempczinski shared a video of himself trying it.
To attract budget-conscious customers, McDonald’s launched a new value menu in the U.S. on April 21. The promotion includes 10 items, each priced under $3. This move aims to draw in shoppers feeling the pinch of inflation. Adjusted earnings per share came in at $2.83, surpassing the $2.74 predicted by analysts. The positive results led to a more than 3% jump in McDonald’s share price before markets opened on Thursday.
The first-quarter figures show McDonald’s strategy of balancing value offers with premium promotions is paying off. With higher sales, stronger earnings, and a share price boost, the company has started the year on solid footing.
