NEW YORK (AP) - McDonald's frappes, smoothies and dollar menu drew in the highest customer count in more than two decades to push the world's largest burger chain's net income up 10 percent in the third quarter.

Results beat estimates and shares rose early yesterday to an all-time high of $79.48.

The quarter continues a long streak of outperforming competitors such as Wendy's and Burger King with rollouts of new products, including Angus snack wraps, smoothies and frappes, which McDonald's introduced this summer. The new menu items have kept diners returning and spending as the economic downturn dampens their appetite for meals out. Investors like what they see, sending shares up some 26 percent so far this year.

CEO Jim Skinner said those smoothies and frappes helped the company achieve its highest customer count in more than 20 years, though he didn't provide specifics. The chain plans to come out with new products next year, including oatmeal available all day.

The company, based in Oak Brook, Illinois, is also using limited-time products to drive sales. The company plans to roll out its McRib sandwich on a national basis next month, something it said it has not done in years.

New drinks have been keeping people's interest because they're typically low-cost, just a few dollars, but have high profit margins, customers can easily grab them on the go.

"It's just something new and often that consumers demand, and we've seen beverages become a larger part of restaurant menus in the last several years," said Morningstar senior analyst RJ Hottovy. "McDonald's has been at the forefront of that movement."

The smoothies and frappes also help increase profits because they cost more than a fountain beverage, and that is key to the company's strategy too, said Don Thompson, president and chief operating officer. It is crucial for a company that draws people in with dollar menu items to have a high-profit item to sell with them.

"What they allow us to do is to be able to afford to execute our value platforms. That's really the biggest goal that we have in economic downturns, protect and grow the guest counts, which yield us high levels of profitability," Thompson told investors on a conference call.

For the three months ending September 30, McDonald's earned $1.39 billion, or $1.29 per share, up from $1.26 billion or $1.15 per share last year.

Revenue rose 4.3 percent to $6.3 billion.

Shares rose $1.42, or 1.8 percent, to $78.83 in early afternoon trading yesterday.

Analysts expected the company to earn $1.25 per share on revenue of $6.23 billion, according to Thomson Reuters.

Revenue at stores around the world open at least 13 months rose six percent, led by 8.1 percent growth in Africa, Asia/Pacific and the Middle East. In the US the figure rose 5.3 percent, while in Europe it rose 4.1 percent.

The figure is important for restaurants because it measures growth at existing locations rather than newly opened ones.

The company said in Europe, results were helped by expanded hours and updated restaurants. In the US people continued to respond well to new drink options and value menu.

Expanded hours are also part of the domestic strategy to expand sales. Some 40 percent of the company's restaurants are now open 24 hours and more than 80 percent are open by 5 a.m.