Starbucks Serves Up Piping Hot Earnings Results but Misses on Revenue

Famous coffee chain Starbucks (NASDAQ: SBUX) reported its fiscal first quarter (Q1) 2021 results today for the 13 weeks ending Dec. 27, 2020. The company brewed up earnings per share (EPS) higher than the Wall Street consensus, reporting adjusted EPS of $0.61 rather than the predicted $0.55 and delivering an approximate 11% positive surprise. Comparable store sales, or comps, were down 5% in the U.S., according to Starbucks' press release, while comps in China simultaneously rose 5%.