McDonald’s focus on value is paying off.
The fast food giant said Wednesday that its global same-store sales — or sales at locations open at least a year — jumped 5.7% in the October-December period. That's better than the 3.9% Wall Street was expecting, according to analysts polled by FactSet.
Chicago-based McDonald's fourth quarter revenue and earnings also beat analysts' expectations.
McDonald’s cut prices on some U.S. combo meals in September. Those Extra Value Meal promotions came on top of discounts that began earlier in 2025, including the McValue menu. McDonald's popular Snack Wraps, which returned to menus in July for $2.99, also helped improve value perceptions.
The price cuts came after years of steady declines in visits from customers with annual household incomes of $45,000 or less. In a conference call with investors last summer, McDonald's CEO Chris Kempczinski warned that those consumers, in particular, no longer saw McDonald’s as a good value.
The company also boosted U.S. traffic in the fourth quarter with limited-time offers, including the return of its Monopoly game in October and a Grinch-themed meal in December. McDonald's said its same-store sales rose 6.8% in the U.S. in the October-December period.
The playbook has been similar in international markets. In Australia, for example, McDonald’s saw higher store traffic after it locked in pricing on its value items for 12 months starting in July.
McDonald's revenue rose 10% to $7.01 billion in the fourth quarter. That beat Wall Street's forecast of $6.84 billion.
Net income rose 7% to $2.16 billion. Adjusted for one-time items, including restructuring charges, McDonald's earned $3.12 per share. That also beat analysts' forecast of a $3.05 per share profit.
Other chains have also been focused on their value message over the last year. Taco Bell, which expanded its value menu in January 2025, said last week that its same-store sales jumped 7% in the October-December period.
