McDonald's beats 3Q profit forecasts

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OAK BROOK, Ill. (AP) -- McDonald's is reporting third-quarter earnings of $1.88 billion.

On a per-share basis, the Oak Brook, Illinois, company said it had profit of $2.32. Earnings, adjusted for non-recurring gains, came to $1.76 per share.

The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.

The world's biggest hamburger chain posted revenue of $5.75 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $5.8 billion.

Shares of McDonald's Corp. have climbed 34 percent since the beginning of the year.