McDonald’s profit beats as turnaround gains steam, shares at record high

April 25, 2017 (Reuters) – McDonald’s Corp reported a better-than-expected rise in quarterly profit and U.S. same-restaurant sales on lower costs, all-day breakfast, $1 drinks and promotions on its popular Big Macs, signaling the company’s plan to keep customers coming back to its restaurants has gained traction. McDonald’s shares on Tuesday popped to an all-time high, jumping 5.3 percent to $141.31, after profit topped Wall Street’s estimate by 14 cents per share. Two years into a turnaround under Chief Executive Steve Easterbrook, the company has slashed overhead, weeded out underperforming…

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