.July 31, 2024 05:44:00 PM

Starbucks Corporation (NASDAQ:SBUX) saw its shares rise over 2% after reporting mixed fiscal third-quarter results. Earnings met expectations at $0.93 per share, but revenue fell short at $9.1 billion, missing the estimate of $9.25 billion. The revenue miss was due to weaker sales in China, where ongoing economic challenges impacted consumer spending. Global comparable store sales dropped 3%, with North America seeing a 2% decline despite price increases. In China, comparable store sales plummeted 14% due to decreases in average ticket size and transactions.