The markets are loving all-day breakfast

January 25, 2016 10:22 AM

McDonald's also said it would refranchize about 4,000 restaurants through 2018 to become 95% franchised, up from its previous target of selling 3,500.

Global same-restaurant sales rose 5%, above the 3.2% expected by analysts polled by research firm Consensus Metrix.

The company's net income rose 9.9% to $1.21 billion, or $1.31 per share, in the fourth quarter ended Dec. 31.

Analysts on average had expected earnings of $1.23 per share, according to Thomson Reuters I/B/E/S.

Revenue fell 3.5% to $6.34 billion, mainly due to a strong dollar, but beat the average analyst estimate of $6.22 billion.

McDonalds' shares have risen 23% in the past six months, outperforming those of rivals Starbucks and Dunkin' Brands Group Inc.

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Sruthi Ramakrishnan, Reuters