The coffee chain reported quarterly earnings and revenue that beat analysts' expectations on Thursday. (Tweet This)
Starbucks posted fiscal third-quarter earnings of 42 cents per share on $4.88 billion in revenue. Analysts forecast Starbucks would report earnings of 41 cents a share on $4.86 billion in revenue, according to a consensus estimate from Thomson Reuters.
After the earnings announcement, the company's shares rose over 5 percent in extended-hours trading. The coffee giant is trading well above its $57 all-time high at current extended-hours levels.
The company also announced on Thursday that it would be repurchasing 50 million shares as part of its buyback program. This is in addition to the 11 million shares that were available for repurchase as of June 28, 2015, the company said.
Starbucks expects full-year revenue growth of 16 to 18 percent. Global comparable store sales growth will remain in the mid-single digits.
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