McDonald’s might finally be figuring out how to convince cash-strapped Americans that a trip through the drive-thru is still worth the money.

The Golden Arches reported mixed third-quarter earnings Wednesday, beating Wall Street’s profit expectations while coming up short on revenue. But investors seemed more interested in signs that U.S. customers are returning and management’s latest attempt to make the menu affordable again.

Shares of McDonald’s jumped 5% today, providing some much-needed relief after the stock had fallen 14% through Tuesday’s close.

The company reported $7.16 billion in quarterly revenue, up 1% from a year earlier but below the $7.29 billion analysts expected.

Adjusted earnings came in at $3.57 per share, comfortably beating Wall Street’s $3.38 forecast. Net income also climbed to $2.49 billion, compared with $2.28 billion during the same period last year.

But the more interesting numbers came from McDonald’s struggling U.S. restaurants.

Domestic same-store sales declined 0.2%, snapping five consecutive quarters of growth. That might not sound particularly encouraging, but analysts had expected a steeper 0.5% decline.

And according to management, things improved considerably as the quarter progressed.

“In the U.S., we’re encouraged by improvement as the quarter progressed following our intervention on value,” CEO Chris Kempczinski said.

In fact, U.S. same-store sales returned to positive territory in September after declining in July and August. Kempczinski also pointed to encouraging customer traffic trends extending into October.

That's welcome news for a company that has spent much of the past two years trying to convince Americans that its restaurants still offer affordable meals.

McDonald’s previously acknowledged that its discount strategy wasn't delivering the results management expected. A lineup of menu items priced below $3 failed to attract enough customers, prompting the company to rethink its approach.

Now, the Golden Arches are going back to basics.

Sales of its Extra Value Meal combinations increased 7% year over year, while McDonald’s brought back popular mobile app promotions, including free fries with a $1 purchase.

And the company isn't finished experimenting.

McDonald’s recently launched an eight-week test across approximately 1,900 U.S. restaurants, comparing customizable mix-and-match bundles with fixed-price meal combinations.

Whichever approach resonates most with customers and franchisees is expected to receive a nationwide rollout in early 2027.

Meanwhile, McDonald’s international business helped offset some of the weakness at home.

Global same-store sales increased 1.5%, beating analysts’ expectations of 1.3% growth.

Its international developmental licensed markets division, which includes Japan and China, posted 4.2% comparable sales growth, more than double Wall Street’s 2.1% forecast.

However, the international operated markets division delivered a more modest 1.4% increase, falling short of expectations. Germany and Australia performed relatively well, while France and China remained challenging markets.

Of course, getting customers back through the doors is only part of McDonald’s turnaround.

The company has also committed $8.5 billion in rent and capital support to help franchisees fund restaurant upgrades, operational improvements and marketing initiatives.

Some franchise operators have pushed back against the financial demands of those plans.

McDonald’s also reduced its 2026 restaurant opening target by approximately 100 locations, leaving around 2,500 planned openings worldwide.

But Wall Street didn't seem particularly bothered.

With shares jumping 5%, investors appeared more interested in the prospect of Americans returning to McDonald’s than the company adding another hundred locations to its global footprint.

The challenge now is making sure those returning customers are buying more than just the cheapest thing on the menu.

At the time of publishing this article, Stocks.News holds positions in McDonald’s as mentioned in the article.