Starbucks Corporation (NASDAQ: SBUX) reported third-quarter financial results after the closing bell on Tuesday. In Q3, the company reported narrower-than-expected losses on revenues that surpassed Wall Street projections.
SBUX shares rose 3.16% immediately following the announcement. The stock has declined by 16% since the beginning of this year.
Starbucks CEO Kevin Johnson said in a statement, “As we continue to drive the recovery, we are also building resilience for the future by accelerating the transformation of our business in ways that will elevate the customer and partner experience and drive long-term growth.”
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