Starbucks Corp (NASDAQ:SBUX) reported third-quarter financial results after the market close on Tuesday. Here’s a look at the key details from the report.
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Q3 Earnings: Starbucks reported third-quarter revenue of $9.46 billion, beating analyst estimates of $9.29 billion. The coffee giant reported third-quarter adjusted earnings of 50 cents per share, missing analyst estimates of 65 cents per share, according to Benzinga Pro.
Consolidated net revenue was up 4% on a year-over-year basis. Global comparable store sales declined 2%, driven by a 2% decline in comparable transactions, partially offset by a 1% increase in average ticket. Comparable store sales fell 2% in North America and were approximately flat internationally. The company said comparable store sales in China were up 2% in the quarter.
Starbucks opened 308 net new stores in the third quarter and ended the quarter with 41,097 total locations. The company said it had approximately $4.17 billion in cash and cash equivalents at quarter’s end.
“We’ve fixed a lot and done the hard work on the hard things to build a strong operating foundation, and based on my experience of turnarounds, we are ahead of schedule,” said Brian Niccol, chairman and CEO of Starbucks.
“In 2026, we’ll unleash a wave of innovation that fuels growth, elevates customer service and ensures everyone experiences the very best of Starbucks.”
Starbucks' board declared a cash dividend of 61 cents per share, payable on Aug. 29 to shareholders of record as of Aug. 15.
Niccol and CFO Cathy Smith will host a conference call to further discuss the quarter at 4:15 p.m. ET.
SBUX Price Action: Starbucks shares were up 4.45% in after-hours, trading at $97.10 at the time of publication on Tuesday, according to Benzinga Pro.
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