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McDonald's (MCD) sales growth slowed in the second quarter as consumers faced a challenging economic backdrop and the fast food chain prepared for its next stage of growth.

The fast food chain posted global same-store sales growth of 1.3%, slightly below the 1.4% gain Wall Street analysts expected and a decline from the 3.8% growth posted in the first quarter, per Bloomberg consensus data.

US comparable sales grew for the fifth quarter in a row, as expected, but the growth rate of 0.8% was also a touch below expectations of 0.9% growth and less than the 2.5% jump in the same quarter last year. Sales growth in both of its international market segments (operated and licensed stores) was roughly in line with expectations.

Adjusted earnings per share increased $0.13 year over year to $3.32, meeting expectations. Revenue was nearly in line with estimates, coming in at $7.1 billion, versus the $7.12 billion expected.

"This quarter McDonald's delivered positive comparable sales growth across every segment and acted decisively to strengthen execution as we prime McDonald's for the next era of long-term growth," Chairman and CEO Chris Kempczinski said in the results, hinting at the chain's September investor meeting and a new strategy.

As part of that, the company named Skye Anderson, a 26-year McDonald's veteran, as president of McDonald's USA. She replaces Joe Erlinger, who is leaving McDonald's after more than two decades with the brand and almost seven years leading the US business.

"Skye Anderson's appointment today as President of McDonald's USA will bring focus and urgency to these efforts given her deep system knowledge, operational discipline, and proven ability to drive change and deliver results for everyone in our System," Kempczinski said.

McDonald's stock is down 13% so far this year, underperforming the S&P 500's (^GSPC) 11% gain year to date.

Several challenges in the second quarter likely weighed on McDonald's results, offsetting new initiatives rolling out, such as crafted sodas.

These challenges include "continued strain on the low-income consumer," the lapse of the Minecraft limited-time offering in April, and overall traffic pressure across the industry, Mizuho's Nick Setyan wrote in a note to clients prior to results.

Plus, with the World Cup in the rearview mirror and the cyclosporiasis outbreak still weighing on consumers' minds, Evercore ISI cut its estimates on US same-store sales growth.

Before Tuesday, Citi's Jon Tower said this quarter will likely be the "low-water mark" for same-store sales growth before the chain's September investor meeting, where McDonald's can "make the case for asset investments, a faster pace of menu innovation and beverages as multi-year sales drivers," he wrote in a note to clients.

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