Fast-food chain McDonald’s (NYSE:MCD) reported Q3 FY2023 results exceeding Wall Street analysts' expectations, with revenue up 14% year on year to $6.69 billion. Turning to EPS, McDonald's made a non-GAAP profit of $3.19 per share, improving from its profit of $2.68 per share in the same quarter last year.
McDonald's reported better-than-expected sales in the third quarter as popular promotions brought in customers despite higher U.S. prices. In July, McDonald's said customers with annual incomes of $45,000 or lower are spending less on each order. McDonald's raised prices on some menu items in the U.S. But it also drew customers with promotions like a 50-cent double cheeseburger on National Cheeseburger Day in September.