Starbucks Q3 Earnings: Revenue Beat, EPS Miss, Turnaround Efforts 'Ahead Of Schedule'

Starbucks reported third-quarter revenue of $9.46 billion, topping analyst expectations of $9.29 billion, according to Benzinga. Adjusted earnings of 50 cents per share fell short of the projected 65 cents. Consolidated revenue rose 4% year-over-year, but global comparable store sales declined 2% due to lower transaction volume. Comparable store sales fell 2% in North America and were flat internationally, though China saw a 2% gain. Starbucks opened 308 net new stores and ended the quarter with $4.17 billion in cash. CEO Brian Niccol said the company is ahead of schedule on its turnaround and expects to launch growth-driving innovation in 2026. The board declared a 61-cent dividend payable August 29. Shares rose 4.45% after hours to $97.10.