McDonald's beats profit estimates; cites menu price hike, positive guest count as key growth driver

McDonald's Corporation has announced results for the third quarter ended September 30, 2022 beating the analyst estimates for its third quarter with revenue of $5.87 billion, compared to expected $5.70 billion, and U.S. same store sales jumping 6.1% compared to the expected 3.66%.

“Our third quarter 2022 performance demonstrated broad-based business momentum as global comparable sales increased nearly 10%. I remain confident in our Accelerating the Arches strategy as our teams around the world continue to execute at a high level,” said McDonald’s President and Chief Executive Officer, Chris Kempczinski.

The QSR chain cited strategic menu price increases and positive guest counts as the key reason for growth. Successful marketing promotions featuring the core menu and continued digital and delivery growth contributed to positive comparable sales results.

“As the macroeconomic landscape continues to evolve and uncertainties persist, we are operating from a position of competitive strength. I also want to thank our franchisees, who have done a tremendous job navigating this environment, while providing great value to our customers,” added Kempczinski.

Global comparable sales increased 9.5%, reflecting positive comparable sales across all segments.

Whereas nternational Operated Markets segment increased 8.5%, International Developmental Licensed Markets segment increased 16.7%.