Why Starbucks Stock Popped 13% in July
Shares of Starbucks (NASDAQ: SBUX) rose more than 13% last month, according to data from S&P Global Market Intelligence, following the release of the cafe titan's fiscal third-quarter results.
Starbucks' revenue grew 8% year over year to $6.82 billion, above Wall Street's estimates for revenue of $6.67 billion. The gains were driven by a 6% rise in global comparable-store sales, which was also above analysts' projections for comp growth of 4%.
Notably, comp growth was strong in Starbucks' two most important markets, China and the U.S., which increased by 6% and 7%, respectively. The U.S. is Starbucks' largest market, and China represents its primary growth opportunity.
Source Fool.com
