McDonald's beats on earnings after slashing prices on soda and coffee

McDonald's on Tuesday reported second-quarter profits and sales that were stronger than analysts had forecast, sending its shares higher in premarket trading.

The fast-food chain's US sales were boosted by its offering of soft drinks for $1 and McCafe beverages for $2, as well as new sandwiches, according to the earnings statement.

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Sales at stores open for at least one year in the US rose 3.9%, topping the forecast for growth by 3.2% according to Bloomberg. Adjusted earnings per share came in at $1.70 versus $1.62 forecast.

"We delivered our strongest global comparable sales and guest count results in more than five years," said Steve Easterbrook, McDonald's CEO.

McDonald's shares rose by as much as 2% in premarket trading. They gained 25% this year through the market close on Monday.

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