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Starbucks Raises Earnings Guidance - Quick Facts

Starbucks Corp. (SBUX) said it delivered strong operating performance in the third quarter, further demonstrating that the company's 'Growth at Scale' agenda is working. The company increased its full-year financial outlook.

For fiscal 2019, the company now expects non-GAAP EPS in the range of $2.80 to $2.82 (previously $2.75 to $2.79). Global comparable store sales growth are expected to be approximately 4% (previously 3% to 4%). Analysts polled by Thomson Reuters expect the company to report profit per share of $2.79. Analysts' estimates typically exclude special items.

For the third-quarter, non-GAAP EPS was $0.78, up 26% over the prior year, inclusive of a $0.03 benefit from discrete income tax items. On average, 28 analysts expected the company to report profit per share of $0.72, for the quarter.

Third-quarter consolidated net revenues were $6.8 billion grew 8% over the prior year.
Global comparable store sales increased 6%, driven by a 3% increase in average ticket and a 3% increase in comparable transactions. Analysts expected revenue of $6.67 billion for the quarter.

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