Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2024 earnings results today.
Consolidated net revenues increased 8% year-over-year to $9.4 billion but fell short of estimates of $9.6 billion.
Global comparable store sales increased 5%.
Net earnings attributable to Starbucks grew 19.8% to $1 billion while EPS rose 21.6% to $0.90. Adjusted EPS grew 20% to $0.90 but missed projections of $0.93.
The company opened 549 net new stores in Q1, ending the period with 38,587 stores.