CNBC4/29/2026Business
Starbucks Shares Jump 7% After First Earnings Beat in 5 Quarters
CEO Brian Niccol's turnaround gains traction as company eyes $2 billion cost savings and margin recovery
Quick Look
- Starbucks shares rose 7% Wednesday after the coffee giant reported its first earnings beat in five quarters and first quarter of growth on both top and bottom line in over two years.
- CEO Brian Niccol outlined plans to flow $2 billion in cost savings through to profit margins in the second half, as investors increasingly focus on profit growth.
- Analysts at Citi and Bernstein raised price targets to $101 and $100 respectively, with both firms monitoring margin flow-through.
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Starbucks shares rose 7% Wednesday after the coffee giant reported its first earnings beat in five quarters and first quarter of growth on both top and bottom line in over two years. CEO Brian Niccol outlined plans to flow $2 billion in cost savings through to profit margins in the second half, as investors increasingly focus on profit growth. Analysts at Citi and Bernstein raised price targets to $101 and $100 respectively, with both firms monitoring margin flow-through.
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This article was originally published by CNBC.
