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00:03Starbucks reported mixed fiscal...
00:05...the first quarter results as its turnaround strategy drove traffic growth for the first time in two years, while...
00:10...pressuring profits, according to CNBC.
00:12The coffee giant reported adjusted earnings...
00:15...of 56 cents per share on $9.92 billion in revenue...
00:20...missing earnings expectations while surpassing revenue estimates.
00:25Net income fell to $293.3 million from 788...
00:30...a year earlier as turnaround costs, higher coffee prices and tariffs...
00:35...weight on margins.
00:37Starbucks projected fiscal 2026...
00:40...adjusted earnings of $2.15 to $2.40 per share and at least 3%...
00:45...same-store sales growth.
00:47Shares rose more than 8% pre-market.
00:50Global same-store sales rose 4% and traffic increased...
00:55...of 3%.
00:56U.S. China, Starbucks' second-largest market...
00:59...posted...
01:00...7% same-store sales growth as the company announced plans...
01:03...to form a joint venture with Boyu...
01:05...capital.
01:06For all things money, visit Benzinga.com.
01:08For all things money, visit Benzinga.com.
01:09For all things money, visit Benzinga.com.
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