The Seattle-based chain posted earnings close to analyst estimates. More reassuring was news that same-store sales rose 6%, and that the company increased its dividend from 17 cents to 21 cents a share.
Shares jumped 7% in after-hours trading, a different story from three months ago, when the company reported lackluster results that it attributed in part to global economic challenges.
"I think the market overreacted last quarter to a mild slowdown in U.S. stores that obscured the long-term potential of this business," said R.J. Hottovy, an analyst with Morningstar.
Starbucks (Fortune 500) is expanding aggressively internationally, with plans to open 600 new stores in the Asia-Pacific region during its 2013 fiscal year, including more than 300 in China. Last month, the company opened its first locatio , n in India as well.
In a conference call with analysts Thursday afternoon, Starbucks executives also touted expected holiday revenue from sales of the Verismo, the company's single-cup home-brewing machine, which could eat into sales of Keurig machines from competitor Green Mountain Coffee Roasters (. )
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|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.05%||4.05%|
|15 yr fixed||3.15%||3.18%|
|30 yr refi||4.04%||4.03%|
|15 yr refi||3.14%||3.16%|
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