Starbucks Corp. (NASDAQ: SBUX) released fiscal third-quarter financial results after markets closed Thursday. The company said that it had $0.61 in earnings per share (EPS) and $6.3 billion in revenue, compared with consensus estimates from Thomson Reuters that called for $0.61 in EPS and $6.25 billion in revenue. The same period from last year had $0.47 in EPS and $5.66 billion in revenue.
During the quarter, global comparable store sales increased 1%, driven by a 3% increase in average ticket. In the Americas and U.S. segments comparable store sales increased 1%.
Mobile Order and Pay represented 13% of U.S. company-operated transactions.
Looking ahead to the 2018 full year, the company expects to see EPS in the range of $2.40 to $2.42 and global comparable store sales growth to be just below the 3-5% targeted range. The consensus estimates are calling for $2.41 in EPS and $24.71 billion in revenue for the full year.
Kevin Johnson, Starbucks CEO and President, commented:
Starbucks record performance in Q3 reflects successful execution against our strategic growth priorities and our commitment to deliver predictable, sustainable growth at scale – and meaningful increases in long-term value – for our shareholders. We remain confident in our global growth strategies, in the sustainability of our leadership position around all things coffee and tea and in our leadership teams around the world to navigate our next phase of growth.
Shares of Starbucks closed Thursday at $51.45, with a consensus analyst price target of $59.09 and a 52-week range of $47.37 to $61.94. Following the announcement the stock was initially down 0.2% at $51.57 in the after-hours trading session.
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