In his first quarterly conference call with investors and analysts, CEO Steve Easterbrook described himself as a "champion of simplicity" who values personal accountability and "progress over perfection." He took the helm on March 1 following one of McDonald's most dismal years on record.

Shares of the fast-food company were up almost 5 percent in early trading. At midday, they remained 3 percent higher at $97.70 as investors shrugged off declines in quarterly earnings and sales.

McDonald's global sales at restaurants open at least 13 months fell a worse-than-expected 2.3 percent in the first quarter, and the company warned of another drop in April.

Net income tumbled 32.6 percent to $811.5 million, and revenue was down 11 percent at $5.96 billion.

Easterbrook plans to unveil his plan for turning McDonald's into a "modern, progressive burger company" on May 4.