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The
company's limited-time promotional deal with rapper Travis
Scott, which caused shortages of some ingredients, and other
marketing investments also helped sales bounce back from
pandemic lows, sending its shares over 6% higher amid broader
market gains.
However, the world's largest burger chain said its business was
being pressured in key markets outside the United States
including France, Germany and the United Kingdom by new lockdown
restrictions due to a spike in virus cases.
Even before the new restrictions, McDonald's overseas sales
recovery had been sluggish compared to the United States, where
its huge number of drive-thru lanes gave it an edge over rivals
for customers looking for restaurant food without the risks of
dining out.
Nearly 95% of McDonald's 14,000 U.S. restaurants have a
drive-thru.
McDonald's total revenue fell about 2% to $5.42 billion in the
three months ended Sept. 30, largely recovering from the over
30% plunge posted in the second quarter.
Analysts on average had estimated revenue of $5.40 billion,
according to IBES data from Refinitiv.
U.S. customer traffic still remained down from a year earlier,
the company said.
Net income rose 10% to $1.76 billion, helped by gains from the
sale of a part of McDonald's stake in its Japanese affiliate.
Excluding those gains, the company earned $2.22 per share,
beating estimates of $1.90.
McDonald's reiterated previously reported quarterly same-store
sales figures of a 4.6% rise in the United States and a 10.1%
fall in international licensed markets.
(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj
Kalluvila)
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