Fast-food colossus McDonald's (NYSE:MCD) reported third-quarter earnings this morning, and it proved to be a mixed bag. Investors bid the stock down at the open, but shares have mostly recovered since.

McDonald's earnings per share topped estimates, but revenue came in below what analysts were expecting. As Motley Fool analyst Jason Moser sees it, it was a middling report. Performance in Asia was less than stellar, and the company's forward guidance was also uninspiring.

Jason believes that one of McDonald's biggest challenges comes from secular changes in consumers' eating habits. The company is trying to address changing food-consumption habits by putting an increased emphasis on somewhat healthier items like salads. But McDonald's doesn't see strong sales for those items.

Jason sees McDonald's as an income investor play. The stock has a 3.4% dividend yield, and it holds a coveted position on the S&P 500's Dividend Aristocrats list.

Erin Kennedy has no position in any stocks mentioned. Jason Moser owns shares of Chipotle Mexican Grill. The Motley Fool recommends Chipotle Mexican Grill, McDonald's, and Panera Bread. The Motley Fool owns shares of Chipotle Mexican Grill, McDonald's, and Panera Bread. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.