cnbc_topnews

We're raising our price target on Starbucks after a home-run quarter

📰 source: cnbc_topnews · 💼 business

starbucks reported a blowout fiscal q3, with revenue of $9.32b beating the $9.16b consensus and adjusted eps of $0.85 crushing the $0.66 estimate. global comparable store sales rose 7.9%, well above the 5.7% forecast. shares jumped 5% after hours to near $110, and the stock is up 23.7% year to date, far outpacing the s&p 500's 6.9% gain.

ceo brian niccol's turnaround efforts are paying off, particularly in the us where comps rose 7.9% on higher traffic and ticket size. the company raised its full-year guidance: revenue now expected to be flat to slightly up, adjusted eps of $2.55-$2.65, and global comps near 6%. margins improved, helped partly by tariff refunds but also by cost savings and sales leverage.

starbucks also used proceeds from its china joint venture to pay down $1.3b in debt. the price target was raised to $120.

why it matters: starbucks' strong quarter and raised guidance confirm niccol's turnaround is gaining traction, with potential for further stock upside.

source: cnbc_topnews
sentiment: +0.70 · impact: 0.60

Surprise fall in US jobs last month as slow summer continues

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China is gaining ground in AI. But the U.S. still has a major advantage

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects