McDonald’s has reported a rise in global sales for the third quarter of 2018, sending shares up 3% on opening.
The fast-food chain saw a growth in sales in the UK, Australian and Japanese markets.
McDonald’s president and chief executive officer, Steve Easterbrook, said: “In addition to achieving 13 consecutive quarters of positive global comparable sales, we have made substantial progress modernising restaurants around the world, enhancing hospitality and elevating the experience for the millions of customers we serve every day.”
“We remain confident that our strategy will drive long-term, profitable growth,” he added.
Revenue surpassed analysts expectations of $5.32 billion, reaching $5.37 billion.
Sales with the fast-food giant’s own US markets increased by 2.4% in the three months to the end of September. This is the slowest pace of growth in six quarters.
McDonald’s has partnered with Uber Eats to increase profits and is working on plans to revitalize sales.
Neil Saunders, who is the managing director of GlobalData Retail, in a statement: “This is a price that they are willing to pay so long as they see results in the form of better sales and profits. However, now these benefits are coming through more slowly, many are starting to question the strategy.”
“In our opinion, the changes McDonald’s is making are right and will pay dividends over time. Indeed, a failure to change would be disastrous. However, the challenge is to ensure that sales growth comes through at a faster pace and that costs are moderated to counterbalance the investment,” he added.
This month saw employees from McDonald’s and UberEats go on strike and protest over a pay dispute.
Shares in the group (NYSE: MCD) are currently trading up 6.40% at 177,29 (1539GMT).
