Starbucks jumps to record high after beating on earnings and raising guidance

Starbucks President and COO Kevin Johnson delivers remarks at the Starbucks 2016 Investor Day in Manhattan, New York on December 7, 2016.

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Starbucks President and COO Kevin Johnson delivers remarks at the Starbucks 2016 Investor Day in Manhattan, New York on December 7, 2016.
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REUTERS/Andrew Kelly

  • Starbucks shares rose in Thursday trading after the company reported second-quarter results.
  • While the company’s global comparable sales fell just short of expectations, its profits beat.
  • Watch Starbucks trade live.

Starbucks shares jumped 1.6% in after-hours trading on Thursday, hitting a record high, after the coffee giant reported better than expected earnings and raised its fiscal 2019 guidance.

Here’s what Starbucks reported, compared with what analysts polled by Bloomberg expected:

  • Adjusted earnings per share: $0.60 versus $0.56 expected.
  • Revenue: $6.30 versus $6.32 billion expected.
  • Comparable store sales: +3% versus +3.1% expected.
  • Comparable store sales in the Americas: +4% versus +3.7% expected.

Wall Street is generally neutral on Starbucks shares. Of analysts surveyed by Bloomberg, 15 recommend “buy,” 16 recommend “hold,” and one recommends “sell.”

This story is developing. Please check back for updates.

Starbucks shares.

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Starbucks shares.
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Markets Insider