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Starbucks reports strong quarterly sales and raises annual outlook
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104.1 KSGF
Starbucks shares soared Wednesday after the coffee giant reported better-than-expected quarterly revenue and profit and raised its financial outlook for the year.
Same-store sales also were up 7.9% in the U.S. during the April-June period, the company said.
Starbucks said it now expects global same-store sales to grow 6% for its full fiscal year.
The company previously forecast same-store sales to grow 5% for the year.
Starbucks shares were up nearly 8% in after-hours trading Wednesday.