Starbucks Corp beat Wall Street estimates on Tuesday for quarterly profits, powered by a sharp recovery in business in China, but shares fell about 6% in after-hours trading after the company did not lift its 2023 guidance.
Some Starbucks investors may have taken profits after Starbucks' stock jumped 16% in the past five weeks with "a pretty big run" into the earnings report, Edward Jones analyst Brian Yarbrough noted.
Customers visited more often and spent more per trip, according to the earnings release. Excluding one-time items, Starbucks earned 74 cents per share, beating estimates of 65 cents. The chain also keeps adding customers to its rewards program, which now has 30.8 million active members in the United States, up 15% over this time last year, according to its earnings release.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Starbucks earnings beat as China reverses same-store sales declinesStarbucks reported earnings after the bell. Here are the results.
Consulte Mais informação »
U.S. demand, surprise China rebound lift Starbucks earningsStarbucks reported quarterly results that beat expectations. $SBUX reported net income of $908.3 million, or 79 cents a share, compared with $674.5 million, or 58 cents a share, in the same quarter last year:
Consulte Mais informação »
Philippines, China to discuss fishing rights in South China Sea - MarcosPhilippines President Ferdinand Marcos Jr said China has agreed to discuss fishing rights in the South China Sea, as he pushed for a 'direct communication line' with Beijing on maritime differences.
Consulte Mais informação »
Vera Farmiga, Miles Heizer, and More Join Netflix's Queer Marine Corp SeriesTheCorps, a queer comedy-drama series, is headed to Netflix with Vera Farmiga, Miles Heizer, Kieron Moore, Max Parker, and more to star.
Consulte Mais informação »
Pearland Economic Development Corp., Chamber of Commerce to host free virtual job fairThe Pearland Chamber of Commerce and the Pearland Economic Development Corp. on May 4...
Consulte Mais informação »
Starbucks workers in Strongsville, Aurora file for union electionsTwo more Starbucks have filed for union elections in Greater Cleveland, joining five cafes that already formed unions.
Consulte Mais informação »