Coffee magnate Starbucks (NASDAQ:SBUX) landed a major win with its earnings report, causing the stock to rally. Starbucks posted $0.81 per share in earnings, which readily beat TipRanks projections calling for $0.75 per share. The company beat revenue projections as well, coming in at $8.41 billion against projections of $8.31 billion from Refinitiv. Starbucks posted record sales, reports noted, as global same-store sales were up 7%. Its United States segment alone saw sales surge 11% thanks to a combination of higher prices and small surges in traffic. Cold drinks led the way, accounting for roughly 75% of sales throughout the U.S.
https://www.tipranks.com/news/article/starbucks-stock-nasdaqsbux-surges-on-terrific-earnings?utm_source=advfn.com&utm_medium=referral