Burger King Holdings (BKC) said Monday that its fiscal first-quarter profit rose 23%, surpassing Wall Street expectations as marketing promotions with movie tie-ins and sales of chicken sandwiches helped offset higher commodity costs.
The world’s second-largest hamburger chain earned $49 million, or 35 cents a share, the three months ended Sept. 30 compared with $40 million, or 30 cents a share, a year earlier.
Revenue increased 10% to $602 million from $546 million in the prior year.
Analysts were expecting a profit of 33 cents a share on revenue of $597.1 million, according to a poll by Thomson Financial. The earnings estimates typically exclude one-time items.
Worldwide same-store sales — sales at stores open at least a year — rose 5.9%, Burger King said, while same-store sales in the U.S. and Canada rose 6.6%. It’s the 15th consecutive quarter in which Burger King has recorded positive same-store sales worldwide.
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