Fast food giant McDonald (NYSE:MCD) saw its shares rise 4.9% on Monday after its results showed comparable sales topped average analysts estimates for the fourth quarter. The company’s international licensed markets business was boosted by strength in the Middle East and Japan.
In the quarter ending December 31, global sales increased by 0.4%. This was down from 3.4% in the same period a year ago, due to the weaker demand in the U.S. But it was better than analysts’ expectations for a decline of 0.93%.
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.
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.
CEO Chris Kempczinski said in a statement that the business 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.”