LINE

Text:AAAPrint
Economy

Starbucks reports record high quarterly earnings

1
2015-07-24 11:25Xinhuanet Editor: Gu Liping

Coffee chain Starbucks reported fiscal third-quarter earnings of 42 cents per share on 4.88 billion U.S. dollars in revenue on Thursday.

"Starbucks Q3 fiscal 2015 stands as among the strongest and most remarkable quarters in our over 23 years as a public company," said Starbucks CEO Howard Schultz in a press release.

After the earnings announcement, the company's shares rose about 5 percent in extended-hours trading.

Starbucks said its new mobile order and pay technology is boosting sales and profit at the roughly 4,000 U.S. cafes where it has been introduced. The technology has the potential to lure in customers who may have been turned off by long lines and waiting times.

Starbucks has also formed a partnership with one of the U.S. leading ride services Lyft, which is Uber's biggest competitor. According to their multi-year agreement, customers use Lyft's services will earn reward points, redeemable against food and beverage items.

Besides, the coffee giant is also reportedly working with New York Times and tea retailer Teavana.

(Agencies)

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.