Zinger Key Points
- Starbucks reports first-quarter revenue of $9.4 billion, beating the consensus estimate of $9.32 billion.
- Starbucks reports first-quarter earnings of 69 cents per share, beating analyst estimates of 66 cents per share.
- Get the Real Story Behind Every Major Earnings Report
Starbucks Corp SBUX reported financial results for the first quarter after the market close on Tuesday. Here’s a look at what’s been brewing at Starbucks over the past few months.
Q1 Earnings: Starbucks reported first-quarter revenue of $9.4 billion, beating the consensus estimate of $9.32 billion. The coffee giant reported first-quarter earnings of 69 cents per share, beating analyst estimates of 66 cents per share, according to Benzinga Pro.
Comparable store sales declined 4% globally, driven by a 6% decline in comparable transactions, partially offset by a 3% increase in average ticket. Comparable store sales fell 4% in North America, 4% internationally and 6% in China during the quarter.
Active loyalty rewards memberships increased to 34.6 million in the quarter, up 1% on a year-over-year basis, and up 2% from the fourth quarter of 2024. Starbucks said U.S. gift card loads reached $3.5 billion. The company opened 377 net new stores in the first quarter and ended the period with 40,576 total locations.
“While we’re only one quarter into our turnaround, we’re moving quickly to act on the ‘Back to Starbucks’ efforts and we’ve seen a positive response,” said Brian Niccol, chairman and CEO of Starbucks.
“We believe this is the fundamental change in strategy needed to solve our underlying issues, restore confidence in our brand and return the business to sustainable, long-term growth.”
Don’t Miss: Starbucks Cracks Down On Freeloaders As Sales Slide, Stock Stays Bullish Ahead Of Q1 Earnings
Starbucks suspended its guidance for fiscal year 2025 last quarter, citing the company's "CEO transition coupled with the current state of the business." Niccol took over as chief executive of Starbucks in September.
Starbucks' board declared a cash dividend of 61 cents per share. The dividend is payable on Feb. 28 to shareholders of record as of Feb. 14.
Management will further discuss the quarter on a conference call with analysts and investors at 5 p.m. ET.
SBUX Price Action: Starbucks shares were up 3.39% in after-hours, trading at $103.79 at the time of publication Tuesday, according to Benzinga Pro.
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