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Starbucks Reports Q3 Fiscal Results with Mixed Performance

by Jessica

Starbucks’ Q3 fiscal results show a mixed performance. The company’s net revenue totaled $9.1 billion, down 1% year-over-year but up 1% in constant currency. This is a 6% increase from Q2.

GAAP earnings per share (EPS) were $0.93, a 6% decrease compared to last year, while non-GAAP EPS also stood at $0.93, declining 7% year-over-year and 6% in constant currency.

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Starbucks opened 526 new stores this quarter, with the U.S. and China comprising 61% of its global portfolio. The company’s three-part plan, focusing on operational improvements, customer experience, and product innovation, is showing early results.

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CEO Laxman Narasimhan highlighted that the plan is driving operational gains and supporting growth. CFO Rachel Ruggeri noted that efficiency efforts are exceeding expectations and maintaining financial flexibility despite a cautious consumer environment.

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