McDonald's Corporation (NYSE:MCD) reported its first-quarter financial results for the period ended March 31, 2024, showcasing positive growth amidst a challenging economic landscape.
The company saw global comparable sales increase by nearly 2%, marking its 13th consecutive quarter of positive growth.
"Our global comparable sales growth in the first quarter marks 13 consecutive quarters of positive comparable sales growth with 30% growth over the last 4 years," said CEO Chris Kempczinski.
The organization credits its success to focusing on everyday value and execution in its restaurants, which continued to drive customer visits despite a discerning consumer spending environment.
Financially, McDonald's outperformed in several key areas.
Consolidated revenues exceeded $6 billion, a noteworthy 4% increase in constant currencies compared to the previous year.
Systemwide sales to loyalty members in 50 markets also demonstrated robust performance, with nearly $25 billion in sales for the trailing twelve-month period.
These results reflect the effectiveness of McDonald's Accelerating the Arches plan, aimed at leveraging competitive advantages and growing market share in the QSR (Quick Service Restaurant) domain for sustainable long-term growth.