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- Starbucks topped quarterly earnings and revenue estimates and hiked its full-year outlook.
- The company posted same-store sales growth of 7.9%, topping Wall Street’s expectations.
- The results continue an ongoing turnaround under CEO Brian Niccol.
A Starbucks logo is displayed on a sign at a Target store in Washington, July 22, 2026.Kevin Carter | Getty Images
Starbucks on Wednesday raised its full-year outlook after reporting its fourth straight quarter of same-store sales growth.
For fiscal 2026, Starbucks now expects adjusted earnings per share in a range of $2.55 to $2.65, up from its prior outlook of $2.25 to $2.45 per share.
It now also projects global same-store sales will rise nearly 6% and U.S. same-store sales will climb more than 6%; the company was previously forecasting global and U.S. same-store sales growth of at least 5%.
“This was the quarter our momentum became truly measurable,” CEO Brian Niccol said in a video shared with the company’s earnings press release.
The coffee giant also reported quarterly earnings and revenue that topped analysts’ expectations.
Shares of the company jumped more than 9% in extended trading.
Here’s what the company reported for the quarter ended June 28 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: 85 cents adjusted vs. 66 cents expected
- Revenue: $9.32 billion vs. $9.16 billion expected
The coffee giant reported fiscal third-quarter net income attributable to Starbucks of $1.05 billion, or 91 cents per share, up from $558.3 million, or 49 cents per share, a year earlier.
Excluding restructuring costs and other items, Starbucks earned 85 cents per share.
Net sales dropped 1% to $9.3 billion due to the company’s sale of a controlling stake in its China business. In November, Starbucks announced it was forming a joint venture with Boyu Capital, which would take over operations in the coffee chain’s second-largest market.
Although Starbucks’ overall revenue fell, its sales at stores open at least 13 months climbed 7.9%, topping Wall Street estimates of 6%, according to StreetAccount.
The coffee chain reported increases in both transactions and average check, showing that customers are returning to its cafes and spending more on their orders.
Under Niccol’s “Back to Starbucks” strategy, the company has focused on improving service and making cafes more welcoming in its home market. To do so, the chain has invested in labor and renovations to its coffee houses, earning some grumbling from investors. But the efforts seem to be paying off for Starbucks, which had seen its sales slump as it lost many of its loyal customers to competitors like Dutch Bros.
The company’s U.S. same-store sales increased 8.1% in the quarter. Traffic to U.S. restaurants jumped 4.5%. With a 3.5% increase in average ticket, customers were also spending more on their orders, paying to modify their lattes and adding food items alongside their drinks.
Outside of Starbucks’ home market, same-store sales rose 5.7%.
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