“Starbucks stock rises 10% as U.S. customers buy into pricier drinks”
November 2, 2023
“Starbucks on Thursday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by strong U.S. demand for pricier drinks.
Shares of the company rose 10% in morning trading.
Here’s what Starbucks reported for its fiscal fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:
- Earnings per share: $1.06 vs. 97 cents expected
- Revenue: $9.37 billion vs. $9.29 billion expected
The coffee giant reported net income attributable to the company for the quarter ended Oct. 1 of $1.22 billion, or $1.06 per share, up from $878.3 million, or 76 cents per share, a year earlier. Net sales climbed 11.4% to $9.37 billion…”
https://www.cnbc.com/2023/11/02/starbucks-sbux-earnings-q4-2023.html