NEW YORK (AFP) – Fast-food giant McDonald’s reported higher first-quarter earnings yesterday behind solidly better sales in the US, China and several other key markets.
Earnings for the quarter ending March 31 were $1.4 billion, up 13.2 percent.
Revenues dropped 9.5 percent following the sales of company-owned restaurants to franchisers.
Shares jumped following the results, which bested analyst expectations and showed continued strength in the US and in many key overseas markets
Important international markets with good results included Britain, Germany, China and Italy. Those countries helped compensate for weaker markets, such as South Korea.
