Investing.com - McDonald’s Corporation (NYSE:MCD) comparable sales topped average analyst estimates in the fourth quarter, as the burger giant's international licensed markets business was boosted by strength in the Middle East and Japan.
In the three months ended on December 31, global comparable sales expanded by 0.4%, decelerating from 3.4% in the year-ago period, as the business was hit by weaker demand in the U.S.
But the uptick was better than analysts' expectations for a decline of 0.93%, Bloomberg consensus forecasts showed.
Same-store sales at its international developmental licensed markets climbed by 4.1%, surpassing growth of 0.7% a year ago and projections for a drop of 0.38%. Performance at the segment was led by the Middle East and Japan, McDonald's noted.
In a statement, CEO Chris Kempczinski said the business, which has recently joined other fast-food chains in offering more lower-priced options to attract consumers, is focused on providing "outstanding value" and "exciting menu innovation."
McDonald's has been pushing to address a dent to guest count and sales sparked by an E. coli outbreak last year that infected dozens of people and killed at least one person, according to the Centers for Disease Control and Prevention (CDC).
Kempczinski has apologized for the outbreak, adding that he was "confident" in the safety of the group's food. Executives have also said they are moving to "restor[e] consumer confidence" and get its U.S. business back to showing "strong momentum."
Group-wide, revenue for the fourth quarter slipped by 0.3% year-on-year to $6.39 billion, compared with expectations of $6.45 billion. Operating income edged up by 2.4% to $2.87 billion.
For the full year, operating profit increased by 1% to $11.71 billion despite McDonald's booking a pre-tax expense of $221 million related to restructuring charges.
Shares in McDonald's rose by more than 1% in premarket U.S. trading on Monday.
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