On July 30, Starbucks rose 4.87% overnight, trading at $109.23/share, with turnover of $8,736.98.

The movement was driven by Starbucks releasing fiscal Q3 results that significantly exceeded Wall Street expectations, prompting the company to raise its full-year outlook. Adjusted EPS came in at $0.85, beating the consensus estimate of $0.66 by nearly 29% and representing a 70% year-over-year increase from $0.50. Revenue reached $9.32 billion versus the $9.17 billion estimate, though down slightly from $9.46 billion a year earlier.

North America same-store sales grew 7.9%, far surpassing the expected 5.73%, marking four consecutive quarters of positive growth. The company raised its full-year adjusted EPS guidance to $2.55-$2.65, up from $2.25-$2.45 previously, well above the analyst estimate of $2.40. Full-year U.S. same-store sales growth is now expected slightly above 6%. Additionally, the company noted coffee commodity price pressures will ease this quarter, and total capital expenditure for fiscal 2026 is projected below the prior year.

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