McDonald's said on Thursday its revenue for the first quarter of 2022 came in above estimates at $5.7 billion, up 11% compared to the same period in 2021. Operating income was up 1% to $2.3 billion.
On the other hand, diluted earnings per share stood at $1.48, dropping 28% year on year. Net income slid 28% to $1.1 billion.
"Our strong performance in the first quarter was underpinned by global comparable sales up nearly 12%, reflecting broad-based momentum across all segments. In most of our major markets, we sustained QSR traffic share gains by focusing on elevating our brand, accelerating digital channels and showcasing our core equities of chicken and beef," CEO Chris Kempczinski stated.
McDonald's shares rose 0.85% in premarket trading following the release of the quarterly results.
