McDonald's serves up earnings beat but US sales decline

Fast food corporation McDonald's posted earnings per share of $1.44 on Monday in its fourth quarter results, slightly higher than analysts' consensus of $1.41.

The US chain also took in higher revenues than expected, with the quarterly revenue of $6.03bn just edging above the $6bn forecast by analysts.

Overall same-store sales for the quarter were 2.7% higher than the corresponding quarter a year previous, but sales in the US actually fell by 1.3%.

The fall in sales in McDonald's biggest market was attributed to a particularly good final quarter in 2015 which saw the introduction of the All-Day Breakfast in the region.

"Our efforts yielded a more streamlined and focused organisation that generated solid fourth quarter and full year results, including our strongest annual global comparable sales growth since 2011 along with record franchisee cash flows in many of our major markets," said chief executive officer Steve Easterbrook in a statement accompanying results.

"I am confident that we're on the right path as we pursue our goal of being recognised by our customers as the modern, progressive burger company."

McDonald's share price was down 1.74% as of 14:43 GMT.