How McDonald’s have wangled super-sized first quarter results
McDonald’s is hoping improvements to its menu will continue to drive restaurant traffic this year.
The company announced this month that US eateries will switch to softer buns and meltier cheese and change their grill settings to make their burgers juicier.
The changes have already been rolled out in 15 other markets, including Australia and Canada, where they have improved customer taste scores, the company said.
Revenue rose four per cent to nearly $5.9bn (£4.8bn) in the first quarter, which also topped analyst projections of $5.6bn (£4.5bn).
Despite the super-sized results, McDonald’s laid off several hundred corporate workers earlier this month in an effort to speed up innovation and decision-making.
McDonald’s booked a restructuring charge of $180m (£145m) – or 18c (15p) per share – during the first quarter to account for severance payments and the closure of some regional offices.
Without that one-time charge, McDonald’s earned $2.63 (£2.12) per share, which is 30c (24p) better than expected.
McDonald’s shares fell less than one per cent on Tuesday.
By Dee-Ann Durbin, Press Association