Starbucks reported its sixth consecutive quarter of declining same-store sales, despite CEO Brian Niccol claiming the turnaround is ahead of schedule. While overall revenue reached $9.5 billion, exceeding expectations, global same-store sales fell 2%, steeper than anticipated. However, North American performance surpassed projections, and China saw a 2% same-store sales increase for the first time in 18 months. Starbucks' stock rose 4% after hours, driven by positive signs despite the continued sales decline and plans for new product launches and app updates.

Prepared by Christopher Adams and reviewed by editorial team.