CHICAGO (CBSDFW.COM/AP) — McDonald’s turned to a sure thing in the first quarter, bacon, and it’s paying off.
The world’s biggest burger chain on Tuesday reported a first quarter profit of $1.33 billion, or $1.72 per share. Earnings, adjusted for pretax expenses, came to $1.78 per share, which is a nickel better than industry analysts had expected, according to a survey by Zacks Investment Research.READ MORE: Dallas ISD Inducts Its 4th Sports Hall of Fame Class
Revenue at the Chicago company reached $4.96 billion, also edging out expectations.
At the beginning of the year, McDonald’s Corp. held a nationwide “Bacon Event,” where for one hour restaurants gave away a side of bacon with any order and the promotion generated both hype and store traffic.READ MORE: Doug Dunbar Speaks One-On-One With Rabbi Charlie Cytron-Walker
Bacon was also added as an option on three of the company’s entree items including the Big Mac, Quarter Pounder and Cheesy Fries. Donut Sticks were also added to its breakfast offerings.
Comparable sales jumped 5.4% globally across all segments during the quarter.
Shares of McDonald’s Corp. are up about 3% before the opening bell.MORE NEWS: Alaska, Texas Governors Sue Over National Guard Vaccine Rule
(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)