Starbucks tops earnings estimates even as U.S. recovery hurt by Covid resurgence

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Customers are continuing to place group orders at Starbucks and that's helping the company during the pandemic, Kevin Johnson says. The CEO discussed the latest earnings results that sent shares lower.

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Shares fell about 1% in extended trading.

Excluding items, the coffee giant earned 61 cents per share, topping the 55 cents per share expected by analysts surveyed by Refinitiv. On the bright side, the number of Starbucks Rewards members who have been active in the last 90 days rose 15% to 21.8 million people. Mobile orders represented a quarter of transactions, up from 17% before the crisis.

The company opened 278 net new cafes during the quarter and now has a footprint nearing 33,000 locations.

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I think so too because they will be day trading.

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