McDonald’s Corp. said its first-quarter profit rose...

McDonald’s Corp. said its first-quarter profit rose 11% from a year ago largely because of its low-price campaign, cost reductions and new restaurants.

The nation’s biggest fast-food restaurant chain operator said it earned $187.4 million, or 51 cents a share, in the three months ended March 31. That compares to $168.5 million, or 46 cents a share, a year earlier. Revenue rose 3.8% to $1.62 billion from $1.56 billion a year ago.