Starbucks Beats on the top, bottom lines and comps; Stocks Climb Postmarket By Investing.com

Investing.com – Starbucks reported a solid solid financial first quarter Thursday, beating Wall Street estimates on profits, sales and globally comparable sales.

the shares in Starbucks (NASDAQ 🙂 rose 1.7% after-sales.

Coffee Chain Operator reported per share of $ 0.75 on revenue of $ 6.63 billion. Analysts asked by Investing.com forecast EPS of $ 0.65 on revenues of $ 6.49 billion. It compared to EPS of $ 0.58 on revenue of $ 5.70 billion in the same period last year.

Globally comparable store increased by 4% in the quarter, and topping anaslysts' forecasts. American and American comparisons were also up 4%.

In addition, Starbucks raised its profit guidance for the 201[ads1]9 accounts. The company now anticipates a $ 2.68 profit at $ 2.73 per share, over street forecasts and up from $ 2.61 to $ 2.66 per share.

But it also reduced expectations for globally comparable sales to 3% to 4% from 3% to 5%. Starbucks said in December whether it was expected full-year comparable sales to be at the low end of 3% to 5%.

Quarterly sales were aided by campaigns, including holiday favorites such as Peppermint Mochas and Gingerbread lattes, while its draft Nitro Cold Brew, which intends to create a beer-like experience, has retreated to customers during slow afternoon.

The company has also partnered with food supplier services in China to help increase sales as it faces increasing competition from local start-up.

"Overall, we believe it was a solid quarter, and this is another quarter that strengthens our view that the cover is progressing and getting some steam," said Edward Jones analyst Brian Yarbrough.

– Reuters contributed to this report.