Starbucks Corp. (SBUX - Free Report) just released its third quarter fiscal 2017 financial results, posting non-GAAP earnings of 55 cents per share and revenues of $5.7 billion. Currently, SBUX is a #3 (Hold), and is down a slight 0.59% to $59.14 per share in trading shortly after its earnings report was released.
Matched earnings estimates. The coffee giant reported earnings of 55 cents per share, matching the Zacks Consensus Estimate of 55 cents per share. This number excludes 8 cents from non-recurring items.
Matched revenue estimate. The company saw consolidated net revenue figures of $5.7 billion, coming in-line with our consensus estimate of $5.74 billion and grew 8% year-over-year.
Starbucks reported that global comparable store sales increased 4%, with U.S. comp store sales increased 5% thanks to a 5% growth in average ticket. China comp store sales increased 7%, driven by a 5% increase in transactions.
Starbucks Rewards membership gained 8% year-over-year, to 13.3 million active members. The program represented 36% of U.S. company-operated sales.
Mobile Payment increased to 30% of transactions in U.S. company-operated stores, while Mobile Order and Pay increased to 9% of transactions in U.S. company-operated stores.
Here’s a graph that looks at Starbucks’ price, consensus, and EPS surprise:
Starbucks purchases and roasts high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related equipment primarily through its company-operated retail stores. In addition to sales through its company-operated retail stores, Starbucks sells whole bean coffees through a specialty sales group and supermarkets. Additionally, Starbucks produces and sells bottled Frappuccino coffee drinks and a line of premium ice creams through its joint venture partnerships.
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