McDonald's reported quarterly earnings that fell short of analysts' expectations on Wednesday, as it fights to recover from food scandals in China and Japan, and faces tough competition at home in the United States.
After the earnings announcement, the company's shares rose in premarket trading. (Get the latest quote here.)
In its first quarterly results under its new Chief Executive Steve Easterbrook, McDonald's global comparable sales at restaurants open at least 13 months fell 2.3 percent.
"I don't think the expectations were very high for this quarter," R.J. Hottovy, senior restaurant analyst at Morningstar, told CNBC, shortly after the earnings announcement. "It was something of a kitchen-sink quarter" of bad news.
The fast-food giant posted first-quarter adjusted earnings of $1.01 per share, down from $1.21 a share in the year-earlier period. The results included strategic charges of 17 cents a share and a negative foreign currency impact of 9 cents per share.