A McDonald’s cheeseburger, fries and soda arranged in Celina, Texas, Sept. 2, 2025.
Jake Dockins | Bloomberg | Getty Images
McDonald’s on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations as its value push wins back customers.
“By listening to customers and taking action, we have improved traffic and strengthened our value & affordability scores,” CEO Chris Kempczinski said in a statement.
Shares of McDonald’s rose 2% in extended trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $3.12 adjusted vs. $3.05 expectedRevenue: $7 billion vs. $6.84 billion expected
The fast-food giant reported fourth-quarter net income of $2.16 billion, or $3.03 per share, up from $2.02 billion, or $2.80 per share, a year earlier.
Excluding restructuring charges and other items, McDonald’s earned $3.12 per share.
Net revenue climbed 10% to $7 billion.
The company’s same-store sales increased 5.7%, fueled by strong growth in its home market. Wall Street was projecting same-store sales growth of 3.9%, according to StreetAccount estimates.
U.S. same-store sales increased 6.8%. In the year-ago period, its domestic same-store sales shrank 1.4% after an E. coli outbreak weeks into the quarter weighed on traffic. McDonald’s credited buzzy promotions — like its Grinch meal and Monopoly — that boosted both traffic and sales this year. The chain also expanded its value offerings by relaunching Extra Value Meals, which offer a roughly 15% discount on combo meals.
Outside the U.S., McDonald’s saw same-store sales growth in nearly all markets. The company’s international operated markets segment, which includes Germany and Australia, reported same-store sales growth of 5.2%. Its international developmental licensed markets division saw same-store sales rise 4.5%.
Looking to 2026, McDonald’s is planning to spend between $3.7 billion and $3.9 billion on capital expenditures, according to a regulatory filing. Most of that will be spent opening approximately 2,600 new locations. The addition of 2,100 net new restaurants is expected to raise system-wide sales about 2.5%, excluding currency fluctuations.
McDonald’s plans to open about 750 restaurants in the U.S. and its international operated markets, while licensees and affiliates will chip in to open more than 1,800 restaurants in other markets.
