Starbucks (SBUX) shares surged 5.43% in pre-market trading on Thursday, after the coffee chain reported fiscal third-quarter results that handily beat Wall Street estimates and raised its full-year outlook for the second time.

The company posted adjusted earnings per share of $0.85, crushing the consensus estimate of $0.66. Revenue reached $9.32 billion, exceeding the $9.16 billion analysts had expected. Global same-store sales grew 7.9%, well above the 5.7% forecast, marking the fourth consecutive quarter of comparable sales growth. In the U.S., same-store sales jumped 8.1%, fueled by both higher transaction counts and increased average ticket sizes.

Starbucks raised its fiscal 2026 adjusted EPS guidance to $2.55–$2.65, up from the previous $2.25–$2.45 range, and now expects global same-store sales growth near 6%, above its prior target of at least 5%. CEO Brian Niccol’s "Back to Starbucks" turnaround strategy—focused on faster service, menu innovation, and store renovations—has been credited with reigniting demand. Several analysts, including Morgan Stanley, Jefferies, and RBC, raised their price targets on the stock following the results.