<p>McDonald's beat Wall Street estimates for third-quarter profit and sales on Monday, powered by new launches as well as steady demand for its cheaper burgers and fries from diners struggling with still-high food prices.</p>.<p>Shares of the company rose about 2 per cent to $261 in premarket trading as it also raised its quarterly cash dividend by 10 per cent.</p>.<p>The burger giant has been able to keep its meals relatively more affordable following the industry-wide hike in prices last year, helping counter the trend of inflation-hit consumers opting to eat more at home and a decline in footfall.</p>.Fast-food slowdown catches up with McDonald's India franchisee.<p>Global comparable sales at McDonald's jumped 8.8 per cent in the quarter ended Sept. 30, while analysts on average expected a 7.36 per cent rise, according to LSEG data.</p>.<p>Drawing on its history of menu enhancements, McDonald's launched the Cheesy Jalapeno Bacon quarter pounder in July and brought back the fan-favorite Spicy Chicken McNuggets to menus in September.</p>.<p>Both items likely drove solid sales growth in the third quarter, UBS analysts had noted.</p>.<p>While overall dining traffic fell in all three months of the quarter, McDonald's saw a 7.3 per cent jump in July, data from Placer.ai showed.</p>.<p>Footfall strength at the company tapered off in the next two months - recording declines of 1.1 per cent and 3.7 per cent - but remained ahead of the broader industry trends.</p>.<p>Comparable sales in the United States climbed 8.1 per cent in the quarter, beating estimates of a 7.4 per cent increase, thanks also to higher average spending at stores.</p>.<p>Meanwhile, same-store sales in McDonald's international operated markets increased 8.3 per cent, edging past expectations for 8.03 per cent growth.</p>.<p>Total quarterly revenue increased 14 per cent to $6.69 billion, beating estimates of $6.58 billion.</p>.<p>Net income rose to $2.32 billion, or $3.17 per share, from $1.98 billion, or $2.68 per share, a year earlier.</p>.<p>On an adjusted basis, McDonald's posted a per-share profit of $3.19, handily beating estimates of $3.00.</p>
<p>McDonald's beat Wall Street estimates for third-quarter profit and sales on Monday, powered by new launches as well as steady demand for its cheaper burgers and fries from diners struggling with still-high food prices.</p>.<p>Shares of the company rose about 2 per cent to $261 in premarket trading as it also raised its quarterly cash dividend by 10 per cent.</p>.<p>The burger giant has been able to keep its meals relatively more affordable following the industry-wide hike in prices last year, helping counter the trend of inflation-hit consumers opting to eat more at home and a decline in footfall.</p>.Fast-food slowdown catches up with McDonald's India franchisee.<p>Global comparable sales at McDonald's jumped 8.8 per cent in the quarter ended Sept. 30, while analysts on average expected a 7.36 per cent rise, according to LSEG data.</p>.<p>Drawing on its history of menu enhancements, McDonald's launched the Cheesy Jalapeno Bacon quarter pounder in July and brought back the fan-favorite Spicy Chicken McNuggets to menus in September.</p>.<p>Both items likely drove solid sales growth in the third quarter, UBS analysts had noted.</p>.<p>While overall dining traffic fell in all three months of the quarter, McDonald's saw a 7.3 per cent jump in July, data from Placer.ai showed.</p>.<p>Footfall strength at the company tapered off in the next two months - recording declines of 1.1 per cent and 3.7 per cent - but remained ahead of the broader industry trends.</p>.<p>Comparable sales in the United States climbed 8.1 per cent in the quarter, beating estimates of a 7.4 per cent increase, thanks also to higher average spending at stores.</p>.<p>Meanwhile, same-store sales in McDonald's international operated markets increased 8.3 per cent, edging past expectations for 8.03 per cent growth.</p>.<p>Total quarterly revenue increased 14 per cent to $6.69 billion, beating estimates of $6.58 billion.</p>.<p>Net income rose to $2.32 billion, or $3.17 per share, from $1.98 billion, or $2.68 per share, a year earlier.</p>.<p>On an adjusted basis, McDonald's posted a per-share profit of $3.19, handily beating estimates of $3.00.</p>