TELETRADER News
7/27, 10:07 PM (Source: TeleTrader)
more TeleTrader news

Starbucks' earnings per share at $0.97 in Q3

Starbucks Corporation reported on Tuesday that its diluted earnings per share came in at $0.97 in the year's third quarter, as opposed to a loss of $0.58 registered for the same period a year prior. Consolidated net revenue was at $7.5 billion in the third trimester, soaring 77.6% on an annual basis to top estimates.

The company's global comparable store sales surged by 73% as Americas comparable store sales rocketed 84% annually. The Oregon-based firm's operating income soared 74%, to reach $216 million in the quarter ending June.

"Starbucks delivered record performance in the third quarter, demonstrating powerful momentum beyond recovery. Our ability to move with speed and agility and to be out in front of shifting customer behaviors has helped further differentiate Starbucks, positioning us well for this moment," company CEO Kevin Johnson commented.

Starbucks' shares dropped more than 2.5% in the after-hours trading after the announcement.

Breaking the News / BU