LONDON (ShareCast) - (Sharecast News) - Fast-food giant McDonald's beat analysts' forecasts with its most recent set of quarterly sales figures on Wednesday as it vowed to invest more into technology and research in 2020.
Global comparable sales growth at McDonald's during 2019 was the highest the firm had seen in more than a decade - up 5.9% for both the quarter and the year as a whole, topping expectations on the Street for growth of 5.23%.

Sales in US restaurants open at least 13 months rose 5.1% over the three months ending 31 December, which was a touch above analysts' estimate of 4.67%. However, US customer numbers fell 1.9% during the quarter and were up just 1% in 2019.

Net income meanwhile grew 14% to $2.08 per share, while revenue rose 3.6% to $5.35bn, coming in slightly above estimates for $5.31bn. Excluding one-time items, McDonald's earned $1.97 a share - a single cent above estimates.

Going forward, McDonald's forecast a 5% to 7% rise in selling, general and administrative expenses spending on technology in 2020 as it continues to invest in technology, research and development as it continues to look into improving the dining experience with kiosks and digital displays, fine tuning delivery services and offering new burgers, beverages and breakfast foods on it menus.

As of 1515 GMT, McDonald's shares were up 2.25% at $215.13 each.

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