McDonald's shares opened in record territory Tuesday, thanks to a stronger-than-expected second-quarter performance that got a boost from upscale burgers and chicken sandwiches and discounted beverages.
- EPS: $1.70 vs. $1.62 expected, according to Thomson Reuters
- Revenue: $6.05 billion vs. $5.96 billion expected, according to Thomson Reuters
- U.S. same-store sales: 3.9 percent vs. 2.9 percent expected, according to StreetAccount
The Golden Arches reported earnings of $1.70 per share on $6.05 billion in revenue. The burger giant was expected to earn $1.62 per share on $5.96 billion in revenue, according to Thomson Reuters estimates.
"To us what this shows is that this is a business that had been in turnaround mode under new CEO Steve Easterbrook and we are starting to see some of these positive results now both domestically and internationally, which is very encouraging," Trip Miller, managing partner at Gullane Capital Partners and a McDonald's shareholder, told CNBC.
Shares of the company rose more than 4.4 percent on Tuesday, reaching a new high of $159.64.