McDonald's reported a blowout second quarter of worldwide revenue growth that the fast food chain said reflected its value proposition as inflation remains high.
"We're winning on value," McDonald's chief executive Chris Kempczinski told analysts on a conference call.
The company's profits nearly doubled to $2.3 billion for the quarter, while revenues rose 14 per cent to $6.5 billion.
While McDonald's has itself raised prices significantly over the last year, executives said it was attracting "trade down" customers who would normally go to pricier rivals.
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