SBUX - Starbucks Stock Is Rising Wednesday: What's Going On? | Benzinga
Starbucks Corp (NASDAQ:SBUX) shares are trading higher Wednesday after the company reported fiscal first-quarter financial results. Multiple analysts provided updates following the print.
What Happened: First-quarter revenue increased 8% year-over-year to $9.4 billion, which missed the consensus estimate of $9.59 billion, according to Benzinga Pro. Starbucks reported quarterly earnings of 90 cents per share, which missed analyst estimates of 93 cents per share.
Comparable store sales climbed 5% globally, driven by a 3% increase in comparable transactions and 2% increase in average ticket. Comps increased 5% in North America, 10% in China and 7% internationally during the quarter.
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