McDonald's shows strong first quarter sales

April 21, 2011

Overall revenue at McDonald's rose 9 percent to $6.1 billion beating analyst expectations by about $100 million for the first quarter.

The driving force behind the rise was an uptick in European diners. The European market led with a 5.7 percent growth in sales, but U.S. and other international markets reported an increase, too.

The company attributes growth to its McCafe coffee and smoothie drinks and featured menu items. McDonald's was able to stave off higher prices of beef and other ingredients this quarter. But the company is considering raising menu prices.

The hamburger maker is experiencing new demand, and so it had a national hiring day earlier this week. McDonald's said it is looking to fill 50,000 new positions.