Starbucks Moving Higher After Earnings

Starbucks SBUX released its Q3 earnings results on Thursday after the closing bell. The company reported EPS of $0.36 compared to analysts' consensus estimates of $0.34. Revenues came in at $2.93 billion versus Wall Street revenue expectations of $2.85 billion. Looking ahead, Starbucks (SBUX) sees FY11 EPS of $1.50-1.51, which compares to consensus estimates of $1.50. In the after hours trading session, SBUX has gained 2.28% to $40.75. "Starbucks record third quarter results reflect both the underlying strength and continuing momentum we have been experiencing across all of our business segments and around the world,” said Howard Schultz, Chairman, President and CEO. “These results demonstrate the power, and the extraordinary global potential, of our unique new business model. Starbucks has never been healthier, more connected to our customers and partners, or better positioned to go after the tremendous business opportunities that lie ahead,” Schultz added.