McDonald’s turned around its sluggish sales in the second quarter, driven in part by a “Minecraft”-themed meal that attracted customers back to its restaurants.
The fast-food giant reported Wednesday that its revenue for April through June rose 5% to $6.8 billion, surpassing Wall Street’s forecast of $6.7 billion, according to analysts surveyed by FactSet.
Same-store sales, which track performance at locations open at least one year, climbed nearly 4%, a sharp rebound from expectations of a 1% decline.
Following the strong results, McDonald’s stock increased by 3% in premarket trading.
This performance marked a notable improvement from the first quarter when McDonald’s saw declines in U.S. and global same-store sales, citing cutbacks by lower- and middle-income consumers on fast food.
The introduction of a meal linked to “The Minecraft Movie,” launched in 100 countries in April, played a key role in driving traffic. The company reported selling out its collectible figures in under two weeks.
Additionally, the addition of McCrispy chicken strips to the menu in May helped boost customer visits.
By contrast, some competitors faced challenges in the same period. Yum Brands, which owns KFC, Taco Bell, and Pizza Hut, reported revenue below expectations on Tuesday and revealed a 5% drop in U.S. same-store sales at KFC. Chipotle also lowered its full-year same-store sales forecast last month after posting a 4% decline in the second quarter.
McDonald’s net income increased 11% to $2.25 billion for the quarter. Adjusted earnings per share, excluding restructuring and other one-time expenses, stood at $3.14, matching analysts’ expectations.
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