=Starbucks (SBUX) reported earnings on Thur 25 Jan 2018 (a/h)

Starbucks beats by $0.01, misses on revs; raises FY18 EPS above consensus; reaffirms FY18 comp guidance; Q1 comps +2%  

• Reports Q1 (Dec) adjusted Non-GAAP earnings of $0.58 per share, $0.01 better than the Capital IQ Consensus of $0.57; revenues rose 5.9% year/year to $6.07 bln vs the $6.19 bln Capital IQ Consensus. Non-GAAP EPS grew 25% to $0.65 per share and included a $0.07 benefit from changes in the U.S. tax law
• Global comparable store sales increased 2%, driven by a 2% increase in average ticket.GAAP operating margin of 18.4% declined 140 basis points compared to the prior year; non-GAAP operating margin of 19.2% declined 80 basis points. Active membership in Starbucks Rewards in the U.S. grew 11% versus the prior year to 14.2 million, with member spend representing 37% of U.S. company-operated sales, and Mobile Order and Pay representing 11% of U.S. company-operated transactions.
• Co issues raised guidance for FY18, sees EPS of $2.48-2.53 from $2.30-2.33, excluding non-recurring items, vs. $2.35 Capital IQ Consensus Estimate. "Co sees FY18 comps of +3.5%; expect to be near the low end of the range for the year. Continue to expect consolidated revenue growth in the high single digits consistent with long term guidance; when including approximately 2% of net favorability related to the acquisition of East China and other streamlining activities, we expect consolidated revenue growth of approximately 9-11% in FY18."