Starbucks Stock Climbs After Q3 Beat as 'Back to Starbucks' Plan Shows Results

Starbucks Corporation (NASDAQ: SBUX ) shares are trading higher Thursday after the company reported better-than-expected third-quarter financial results and raised its fiscal-year earnings per share guidance above estimates.

Starbucks stock is at critical resistance.

What’s driving SBUX to record levels? Q3 Results Highlight Comp Sales Strength Starbucks reported adjusted earnings per share of 85 cents, beating the consensus estimate of 66 cents.

In addition, it reported revenue of $9.32 billion, beating the consensus estimate of $9.15 billion.

Global comparable store sales rose 7.9%, marking the company’s fourth consecutive quarter of comp growth, driven primarily by a 4.2% increase in comparable transactions and a 3.5% increase in average ticket.

U.S. comparable store sales increased 7.9%, while international comparable store sales rose 5.7%.

The company opened 175 net new stores during the quarter, ending the period with 41,304 stores globally. “Our Back to Starbucks plan was built on the belief that an extraordinary cup of coffee, human connection and customer experience win the day, every day.

Our third quarter results are proof they do,” said Brian Niccol, Chairman and CEO of Starbucks.

Lifts FY Guidance Starbucks raised its fiscal-year adjusted earnings per share guidance from between $2.25 to $2.45 to between $2.55 billion and $2.65, versus the consensus estimate of $2.40.

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