Starbucks' Digital Efforts Are Paying Off Nicely
Starbucks (NASDAQ: SBUX) shares surged this week, following the coffee giant's fiscal third-quarter update. Shares were up nearly 10% on Friday as investors digested the company's better-than-expected revenue and non-GAAP earnings per share during the period.
Strong performance in the company's two most important markets -- the U.S. and China -- helped drive the quarter's surprise upside. Comparable store sales in these markets increased 7% and 6%, respectively.
But there was another key catalyst for the quarter that investors shouldn't overlook: continued stellar performance from Starbucks' digital efforts.
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