Starbucks reports solid third-quarter earnings

Posted Aug 1st 2007 4:20PM by Michael Fowlkes
Filed under: After the Bell, Earnings Reports, Good news, Starbucks (SBUX)

After today's close Starbucks Corp. (NASDAQ: SBUX) reported solid third quarter earnings. The stock has been trading up 3.6% following today's release after finishing the day up 1.9% to $27.20.

During the quarter the company saw its net revenues jump 20% to $2.4 billion, and net earnings of 21 cents per share which matched analyst estimates.

I ran a preview of today's earnings last night, and noted that the coffee giant really needed to come through with strong earnings today to turn itself around. Before today Starbucks had been able to only match estimates for three straight quarters and the stock has been in a steady downward slide.

The company will be hosting its conference call today starting at 5:00 PM EST and I will be liveblogging the call in its entirety. Be sure to come back at 5:00 and you will be to follow along as I cover the call with up to the minute details.

Michael Fowlkes has worked as a stock trader for seven years and spent the last two years working as an analyst for the online investment advisory service Investor's Observer.

Tags: inthenews, live coerage, liveblog, LiveCoerage, sbux, starbucks