StarbucksThe soaring sales of cold drinks in the United States boosted the company's earnings and revenue growth, but warned that the recovery in China, the second-largest market, would slow, it said on Tuesday.

Starbucks' third-quarter revenue rose 78 per cent year-on-year to $7.5 billion, with market expectations of $7.29 billion, compared with adjusted earnings of $1.01 per share and 78 cents per share, according to the results.

Globally, same-store sales rose 73 per cent in the third quarter; US same-store sales, the largest market, rose 83 per cent, up 10 per cent from 2019; and Chinese same-store sales rose 19 per cent, Starbucks said.

For the full year of fiscal 2021, the company raised its adjusted earnings per share forecast to $3.20-$3.25, compared with $2.90-$3 previously.

Starbucks also cut its forecast for global same-store sales growth for the full year. The company now expects an increase of 20 per cent, 21 per cent, compared with a previous forecast of 18 per cent, 23 per cent.

The company also expects same-store sales in China to slow for the full year, with an expected growth of 18%, 20%, compared with 27%, 32%, and is expected to be flat next quarter.

Starbucks shares fell more than 3% in after-hours trading after the results were announced.