Starbucks Corporation (NASDAQ: SBUX) reported third-quarter fiscal 2024 results, wherein earnings met the Zacks Consensus Estimate but revenues missed the same. Despite reporting not-so-impressive results, the company's shares rose 3.6% in the after-hours trading session on Jul 30. Investor sentiment regarding SBUX received a boost after its CEO, Laxman Narasimhan, said that the company's three-part action plan is starting to show positive results, leading to operational improvements that should boost financial performance. Narasimhan also highlighted that the company's increasingly innovative and persistent approach is strengthening its abilities and steering SBUX back toward sustainable growth. Discussion on Earnings, Revenues & Comps In the fiscal third quarter, the company reported adjusted earnings per share of 93 cents, in line with the Zacks Consensus Estimate. The bottom line decreased 7% year over year from $1.00. Quarterly revenues of $9,113.9 million missed the Zacks Consensus Estimate of $9,224 million. The top line declined 0.6% on a year-over-year basis, due to dismal international revenues. Global comparable store sales declined 3% year over year. The downside was backed by a decrease of 5% in comparable transactions, partially overshadowed by a 2% increase in average tickets. In the fiscal third quarter, Starbucks opened 526 net new stores worldwide, bringing the total store count to 39,477. Starbucks Corporation Price, Consensus and EPS Surprise Starbucks Corporation price-consensus-eps-surprise-chart | Starbucks Corporation Quote Overall Margin Contracts in Q3 On a non-GAAP basis, the operating margin was 16.7%, which contracted 70 basis points (bps) from the prior-year quarter's level. The decrease was caused by several factors, including increased costs due to investments in employee wages and benefits and ...