McDonald’s reported its third-quarter earnings with mixed results, surpassing earnings expectations but falling short on revenue. The company’s adjusted earnings per share stood at $3.57 compared to the anticipated $3.38, while revenue reached $7.16 billion, slightly below the $7.29 billion forecast. Despite a 0.2% decline in U.S. same-store sales, this was a smaller drop than the 0.5% decline analysts had predicted. CEO Chris Kempczinski noted that the domestic business showed signs of improvement as the quarter progressed, particularly after the company refocused its value offerings.

The U.S. sales dip followed weaker traffic at McDonald’s restaurants, with same-store sales returning to growth in September after declines in July and August. McDonald’s has leaned into discounts and promotions, such as Extra Value Meals and app-based offers, to appeal to budget-conscious customers amid a challenging consumer environment. To bolster its turnaround efforts, the company is testing new value menus featuring mix-and-match bundles and set combinations, with plans to launch the most popular option nationwide in early 2027.

Internationally, McDonald’s delivered stronger performance, with same-store sales rising 1.5%, driven mainly by a 4.2% increase in developmental licensed markets like Japan and China—well above expectations. However, international operated markets such as Australia and Germany showed slower growth, with a 1.4% increase falling short of the anticipated 2.1%. France was identified as a particular area of weakness due to recent economic softness and operational disruptions caused by student protests, though franchisees there are actively pursuing a strategic turnaround.

Following the earnings report, McDonald’s shares climbed over 6%, reflecting investor optimism about the company’s ability to recover in its core U.S. market and maintain international momentum despite ongoing headwinds. CFO Ian Borden emphasized the company's progress in maintaining or gaining market share across most large international markets, highlighting McDonald’s adaptability in a challenging global economic landscape.