Starbucks exceeded Wall Street’s expectations with its third-quarter earnings, which went beyond speculated revenue, earning $8.14 billion, nearly $0.12 more than expected.
Howard Shultz, interim CEO, in the earnings release says, “We have a clear line-of-sight on what we need to do to reinvent the company, elevate our partner and customer experiences, and drive accelerated, profitable growth all around the world.”
The company opened nearly 318 new stores. According to the report for the third quarter, the stores in China and the U.S. comprise 61% of the brand’s global portfolio.
Exceeding expectations even during the period of the global recession, Starbucks has managed to keep its consumers satisfied.