Starbucks Corporation (NASDAQ:SBUX) released its earnings numbers for the three months through June on Thursday, June 24, after the market closed for the day on Wall Street. The company showed earnings per share of $0.67 for the quarter, which it records as the third of its fiscal year 2014. Revenue for the period came in at $4.15 billion. On today’s market shares in the coffee company trended strongly upward and finished the day selling for $80.45.
When the company released its numbers for the third quarter of 2013 it showed earnings per share of 55 cents per share on revenue of $3.7 billion. This time around the analysts studying the company were looking for growth. Before the release of these numbers analysts were, by consensus, predicting that the company would earn in the region of 66 cents per share on revenue totaling $4.14 billion. Consensus figures were taken from a Bloomberg survey of 27 analysts following the company.
Starbucks brand impresses in Q3
The company’s chairman Howard Schultz said, “The increasing power of the Starbucks brand, the success of our best-in-class mobile, social and digital technologies and our greatest asset – over 300,000 partners who deliver the Starbucks Experience to over 70 million customers around the world each week – position us to continue growing our business around the world and into the future.”
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Starbucks Corporation (NASDAQ:SBUX) has, for a number of year, been one of the most impressive brands in the consumer sphere, and likely the most impressive operating in the food business. The company’s innovative approach was one of the first to bring high growth to an area many had condemned to low margins and high rates of failure.
For the next year Starbuck Corporation (NASDAQ:SBUX) is predicting that it will open 1600 new stores around the world and increase its total revenue numbers by 10%.
Starbucks leading in food
Starbucks Corporation (NASDAQ:SBUX) is one of the several food companies that have found themselves growing like tech companies over on the Nasdaq exchange. The company’s shares have more than quadrupled in value in the last five years, and the market is, at least mathematically, very optimistic about the company’s prospects. Shares in the firm were selling at close to 400 times last year’s earnings today.
The impressive rise in value at Starbucks has everything to do with the company’s constant ability to innovate in its offerings. Years ago when it saw coffee sales inevitably falling during the Summer the company got behind iced-coffee in a huge way and manufactured a massive increase in value for itself. This year the company has tried something new entirely.
Starbucks Corporation (NASDAQ:SBUX) is now offering all of its customers breakfast, trying to break into a fast food market that McDonald’s has held closely for years. The progress of that business, which appears to be doing well, is sure to be a question on the minds of many analysts and investors as they read over this earnings reports. Luckily, they’ll be able to question management about the new menu on the firm’s conference call at 5 PM EDT this afternoon.