The problem is that good isn't good enough for these guys, said RBC Capital analyst Larry Miller, who said as McDonald's shares approach $60, the company needs to show growth catalysts to lift its stock.
Miller said June sales at established restaurants rose 1.8 percent in the United States, 4.7 percent in Europe and 0.3 percent in the region that includes Asia and the Pacific, the Middle East and Africa.
The world's largest hamburger chain said it remains confident in its outlook for the year and it expects July sales in stores open at least 13 months to be similar to or better than June's.
McDonald's and some other fast-food restaurants have benefited as the global economic downturn has sent customers to lower-priced fare, including the company's Dollar Menu items.
On Wednesday, Chipotle Mexican Grill
Second-quarter net income fell to $1.09 billion, or 98 cents a share, from $1.19 billion, or $1.04 a share, a year earlier.
Excluding a 1-cent-per-share gain from a license deal in Indonesia and the sale of Redbox Automated Retail, McDonald's earned 97 cents a share, matching the expectations of analysts polled by Reuters Estimates.
The company said it gained U.S. market share due partly to the national launch of McCafe premium coffee products.
McDonald's previously warned that the stronger dollar, which lessens the value of sales made overseas, would reduce revenue and profits. It hurt second-quarter results by 9 cents.
Revenue, which includes sales from company-owned restaurants plus fees like royalties from franchisees, fell 7 percent from a year earlier to $5.65 billion.
During the second quarter, sales at restaurants open at least 13 months rose 4.8 percent globally.
Same-store sales were higher in all regions -- gaining 3.5 percent in the United States, 6.9 percent in Europe and 4.4 percent in Asia/Pacific, the Middle East and Africa.
Shares of McDonald's fell $2.01 to $56.81 in morning trading on the New York Stock Exchange.
(Additional reporting by Ben Klayman in Chicago; Editing by Brian Moss)