McDonald's stock surges on results

McDonald's shares rallied after the company reported a better-than-expected rise in quarterly profit and US same-restaurant sales. VIDEO: REUTERS

NEW YORK (REUTERS) - All-day breakfast, Big Mac, and cost cuts have contributed to McDonald's good results. 

The company reported a better-than-expected rise in quarterly profit and US same-restaurant sales. 

Its shares popped on the news to an all-time high. McDonald's is two years into a turnaround under chief executive Steve Easterbrook. 

He slashed overhead, introduced all-day breakfast, and switched US restaurants to chicken raised without human antibiotics. 

He is now taking aim at Wendy's, adding cooked-to-order made from fresh beef Quarter Pounder. 

Next up for McDonald's are self-service kiosks and 'smart' menu boards to speed up service. 

At least five brokerages have raised their price targets on McDonald's stock since it said in March that it's testing its mobile ordering app.