McDonald's (MCD) reported second quarter results that fell short of analyst expectations on both the top and bottom lines. Adjusted earnings of $2.97 per share missed expectations of $3.07, and revenue was $6.49 billion versus an estimated $6.63 billion. Same-store sales was also a miss, -1.0% versus the expected +0.84%. In the earnings release, Chairman and CEO Chris Kempczinski notes that "consumers are more discriminating with their spend."

Yahoo Finance senior reporter Brooke DiPalma breaks down the fast-food giant's Q2 report.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Stephanie Mikulich.