McDonald’s growth surges after all-day breakfast

Chicago - McDonald’s, the world’s biggest restaurant chain, posted fourth-quarter earnings that beat analysts’ estimates after its all-day breakfast helped fuel US sales.

Global same-store sales grew 5% in the period, the Oak Brook, Illinois-based company said in a statement on Monday. Analysts had estimated 3.2%. Excluding some items, earnings amounted to $1.28 a share, compared with a projection of $1.23.

The results add to evidence that Chief Executive Officer Steve Easterbrook is turning around McDonald’s after its worst sales slump in more than a decade. The fast-food chain started serving breakfast all day in the US in October, bowing to a longstanding demand from customers. Easterbrook also has focused on speeding up service and improving order accuracy.

The shares rose as much as 4.5% to $123.72 in early trading after the results were released. In 2015, McDonald’s gained 26%, outpacing the Standard & Poor’s 500 Index, which lost 0.7%.