McDonald's earnings beat Wall Street estimates, helped by price hikes as US foot traffic declined

"We're committed to really updating and competing in an aggressive way in the chicken segment," Kempczsinki said but declined to share more on future plans.despite traffic to restaurants falling by 1.9% in 2019.

McDonald's attributed its U.S. sames-store sales growth to price hikes, strong sales of core menu items like the Big Mac and positive impacts from high-tech store renovations that include self-order kiosks. The company expects to spend about $1.3 billion on capital expenditures in the U.S. in fiscal 2020, more than half of which will be spent on those renovations.

Excluding a tax benefit related to new regulations, the global fast-food giant earned $1.97 per share, topping the $1.96 per share expected by analysts surveyed by Refinitiv.rose 4% to $5.3 billion, meeting expectations. The company reported global same-store sales growth of 5.9%.

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