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Starbucks’ Stock Pops After Coffee Chain Crushes Estimates, Raises Forecast


Starbucks raised its full-year earnings and revenue forecast Thursday after more customers returned to cafes in the U.S. and China for pricier drinks.

Shares of the company jumped 6.5% in extended trading. The coffee chain’s stock, which has a market value of $110.2 billion, is up 41% so far this year.

“Our two targeted long-term growth markets, the U.S. and China, performed extremely well across a number of measures as a result of our focus on enhancing the customer experience, driving new beverage innovation and accelerating the expansion of our digital customer relationships,” CEO Kevin Johnson said in a statement.
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