McDonald’s shares are up 1.5% in after-hours trading after the company reported a 7% jump in adjusted profit on Wednesday.
Shares are up more than 1% for the year.
Shares of McDonald’s have risen nearly 5% this year as the company has struggled to make the transition to a new fast-casual concept.
The company’s latest quarterly earnings report is due in about three weeks.
McDonald’s reported an operating profit of $1.5 billion, or $2.05 per share, in the quarter ended Dec. 31, the company said.
McDonald’s has been struggling to move into a new business model in which customers pay for meals in cash.
In the first quarter of this year, McDonald’s was able to boost revenue by more than 50% from a year earlier, despite falling sales.
Analysts expect McDonald’s earnings in the first half of 2018 to be even higher.
“While our business remains strong, the challenge to McDonald’s is that it needs to continue to invest in the future,” McDonald’s chief executive, Dan Mullen, said in a statement.
Mullen is expected to be named chairman of the board at the end of the year and take over the company’s $14 billion in debt.
Some analysts are predicting a $1 billion revenue drop in the fiscal year that ends on March 31, 2018.
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