Cheap prices, new products and pleasant restaurants drew in enough customers to help fast food restaurant chain McDonald's boost its net income by 5 percent for the first quarter of 2012, the company reported Friday.
Net income for the quarter stood at $1.3 billion, up from $1.2 billion in the first quarter of 2011. Revenue stood at $6.5 billion, a 7-percent increase over the $6.1 billion it reported for the same period in 2011.
"The ongoing strength of McDonald's results, amidst persistent economic headwinds, is a testament to our customer-focused plans and our proven business model," said chief executive Jim Skinner.
He said he expected to see 4-percent sales growth in April.
The company attributed the strong sales to continuing popularity of its classic products, as well as interest in new products like the Chicken McBite. It also said that customers were attracted to newly redesigned restaurants.
Strong growth, of at least 5 percent, was reported in almost every global sector.
Skinner is set to retire in June, with Don Thompson set to take his job.
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