Starbucks fiscal Q3 revenue misses estimates on China weakness

Investing.com - Starbucks reported Tuesday mixed fiscal third-quarter results as earnings was in line, but revenue missed Wall Street estimates as weaker sales in China weighed.

Starbucks Corporation (NASDAQ: SBUX) shares climbed 2% in afterhours trade following the report.

Starbucks reported earnings of $0.93 on revenue of $9.1 billion. Analysts polled by Investing.com anticipated EPS of $0.93 cents on revenue of $9.25B.

The miss on the top line comes as economic weakness in China, a key market segment for the company, continues to weight on spending.

Global comparable store sales declined 3% missing estimates for a 2.7% decline.

North America comparable store sales fell 2%, though weakness was kept in check by price hikes.

China comparable store sales declined 14%, driven by a 7% decline in both average ticket and comparable transactions.

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