Good News for Starbucks Stock

by Christopher Freeburn | July 26, 2013 10:08 am

starbucks lit sign 630 flickr 300x225 Good News for Starbucks Stock[1]Shares of Starbucks (SBUX[2]) climbed more than 7% in Friday morning trading after the company posted better-than-expected quarterly results[3].

The coffee shop chain said that it earned $417.8 million during the third quarter, up 25% compared to the same time last year. EPS came in at 55 cents, topping the 53 cents that analysts had forecast, the Associated Press noted.

Quarterly sales of $3.74 billion also beat Wall Street estimates of $3.72 billion. The company noted that worldwide same-store sales jumped 8% while U.S. same-store sales increased 9%.

Starbucks increased its guidance for fourth-quarter earnings from earlier estimates of between $2.12 to $2.18 a share, to a range of $2.22 to $2.23 a share.

Earlier this week, Starbucks announced that it would introduce a new line of Greek yogurts and parfaits[4] under its Evolution Fresh brand.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/06/starbucks_lit_sign_630_flickr.jpg
  2. SBUX: http://studio-5.financialcontent.com/investplace/quote?Symbol=SBUX
  3. after the company posted better-than-expected quarterly results: http://hosted.ap.org/dynamic/stories/U/US_EARNS_STARBUCKS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-07-25-18-27-03
  4. that it would introduce a new line of Greek yogurts and parfaits: http://investorplace.com/2013/07/starbucks-to-rollout-new-line-of-greek-yogurt-products/

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