The hot side stays hot, all right. McDonald's (NYSE: MCD) has once again blown past expectations, proving once again that betting against the burger giant is an unwise move these days.

Mickey D's third-quarter net income increased 10%, to $1.39 billion, or $1.29 per share. Revenue increased 4% (or 6% excluding currency translation) to $6.3 billion. Same-store sales sizzled once again, increasing 6% on a global basis.

These are amazing feats for a company that's been nailing operational excellence for so long. McDonald's attributed the excellent quarterly results to its successful promotion of its McCafe Frappes and Smoothies, as well as the usual suspects on its Dollar Menu.

McDonald's success with Smoothies and McCafe Frappes comes despite formidable competition from companies like Starbucks (Nasdaq: SBUX) and Panera (Nasdaq: PNRA). The success of Mickey D's core offerings, including its Dollar Menu lineup, makes life no easier for rival burger slingers and fellow fast food companies like Burger King, Wendy's/Arby's (NYSE: WEN), Yum! Brands (NYSE: YUM), and Sonic (Nasdaq: SONC). Sonic recently reported declining revenue and earnings, making McDonald's performance in a tough market even more amazing.

McDonald's shares are hitting new all-time highs, but investors shouldn't let that scare them into thinking this stock's no longer a value. Its long-standing history of blowing away everybody's expectations is nothing to underestimate.

Keeping the faith in McDonald's has been paying off for its shareholders. However, if you're hankering for a cheaper price for McDonald's shares, consider putting it into our "My Watchlist" feature. Just remember, this high-quality stock still looks like a strong performer even now, given its continued appeal for consumers who are hungry for bargains.

Starbucks is a Motley Fool Stock Advisor recommendation. The Fool owns shares of Yum! Brands. Try any of our Foolish newsletter services free for 30 days.

Alyce Lomax owns shares of Starbucks. The Fool has a disclosure policy. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community.