Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today.
Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections.
Global comparable store sales increased 5%.
Net earnings attributable to Starbucks increased 4.8% to $855.2 million while EPS rose 7.2% to $0.74 compared to last year. Adjusted EPS grew 4% to $0.75, but fell short of estimates.
The company opened 459 net new stores in Q1, ending the period with 36,170 stores globally.
The stock was down over 3% in aftermarket hours on Thursday.
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