Starbucks Q3 Earnings Highlights: Revenue Beats Estimates And Hits Record, China Sales Bounce Back And More
Portfolio Pulse from Chris Katje
Starbucks Corporation (NASDAQ:SBUX) reported Q3 revenue of $9.17 billion, up 12% YoY, but slightly below the consensus estimate of $9.29 billion. Earnings per share were $1, beating the estimate of 95 cents. Same store sales increased 10% YoY, with North America up 7% and international up 24%. China sales within the international segment rose 46% YoY. The company opened 588 new stores in Q3, bringing the total to 37,222. The U.S. rewards program membership increased 15% YoY to 31.4 million.
August 04, 2023 | 10:24 am
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Starbucks reported strong Q3 results with revenue and EPS beating estimates, and significant growth in same store sales. However, the stock price may be affected due to the revenue slightly missing the consensus estimate.
Starbucks reported strong Q3 results, with revenue and EPS beating estimates, and significant growth in same store sales. However, the revenue slightly missed the consensus estimate, which may affect the stock price in the short term. The company's strong performance and growth in its rewards program membership indicate a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100