McDonald's Posts Strong Q2 Earnings Amid US Sales Pressure

McDonald's posted strong second-quarter profits and named Skye Anderson as its new US operations chief. The company reported earnings of $2.36 billion, or $3.32 per share, for the three months ended June 30. This represents a slight increase from last year's earnings of $2.25 billion, or $3.14 per share.

The chain saw same-store sales rise 0.8% in the US and 1.3% globally, but warned that high gas prices and consumer anxiety over the Iran conflict could impact its sales. McDonald's has been trying to attract lower-income customers with value meals and a simplified menu featuring items costing $3 or less.

The company's revenue climbed to $7.1 billion from $6.84 billion in the prior-year period, but fell short of Wall Street's estimate of $7.13 billion. McDonald's shares rose 1.6% before the opening bell.