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Jul 02, 2023
Starbucks Q3 2023 Earnings Report
Starbucks' Q3 2023 results reflected strong momentum and progress against the Reinvention Plan, with a record $9.2 billion in consolidated net revenues and exceeding EPS expectations.
Key Takeaways
Starbucks reported a strong third quarter in fiscal year 2023, with consolidated net revenues up 12% to a record $9.2 billion. Global comparable store sales increased by 10%, and GAAP EPS reached $0.99, with non-GAAP EPS at $1.00, exceeding expectations.
Global comparable store sales increased 10%, driven by a 5% increase in comparable transactions and a 4% increase in average ticket.
North America and U.S. comparable store sales increased 7%, driven by a 6% increase in average ticket and a 1% increase in comparable transactions.
International comparable store sales increased 24%, driven by a 21% increase in comparable transactions and a 2% increase in average ticket; China comparable store sales increased 46%, driven by a 48% increase in comparable transactions and a 1% decline in average ticket.
The company opened 588 net new stores in Q3, crossing the 37,000 store count threshold globally, ending the period with 37,222 stores.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company will discuss fiscal year 2023 financial targets during its Q3 FY23 earnings conference call starting today at 2:00 p.m. Pacific Time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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