McDonald's is higher after an earnings beat, with U.S. restaurants showing improvement. The U.S. improvement is the part of this print that matters for the tape.

What happened: McDonald's reported quarterly earnings that beat expectations, but traffic to its U.S. restaurants fell. Why it matters: The company has leaned into discounts to attract budget-conscious diners over the last two years, and the decline in U.S. traffic came despite the earnings beat.

McDonald's reported quarterly earnings that beat expectations, but traffic to its U.S. restaurants fell.

The company has leaned into discounts to attract budget-conscious diners over the last two years, and the decline in U.S. traffic came despite the earnings beat.