Starbucks reports declining revenue, slightly beats expectations

Starbucks (SBUX) missed the mark on revenue and same-store sales growth yet again.

Q3 revenue fell 1% to $9.1 billion, lower than expectations of $9.20 billion, per Bloomberg consensus estimates.

Global same-store sales declined for the second quarter in a row, down 3%, while overall foot traffic fell 5%.

Adjusted earnings per share did come in slightly higher at $0.93, compared to estimates of $0.92.

Same stores sales declined 2% in the US.

The size of the average check was up a tad higher, up 2%, due to menu price increases.

Its second-largest market, China saw the biggest drop of all Starbucks segments. Same-store sales fell 14%, compared to last quarter when they were down 11%. Foot traffic there fell 7% and so did the average check size.