Starbucks lifts annual outlook after quarterly beat
Shares of Starbucks SBUX.O were up 8.5% at $113.22 in aftermarket trading.
The company raised its annual sales and profit forecast for the second time, betting on CEO Brian Niccol's turnaround efforts translating into sustainable growth for the world's largest coffee chain.
It expects fiscal 2026 adjusted earnings per share of $2.55 to $2.65, compared with its previous outlook of $2.25 to $2.45.
Starbucks logged second-quarter revenue of $9.32 billion, versus analysts' estimate of $9.16 billion.
It posted second-quarter adjusted EPS of 85 cents, compared with estimates of 66 cents.
As of the last close, the stock was down 25% year to date.
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