Starbucks (NASDAQ: SBUX) stock gained 3.6% through 10:05 a.m. ET Wednesday morning, despite the company reporting only mixed earnings (an earnings meet and a sales miss) last night.

Wall Street analysts had forecast the restaurant chain would earn $0.93 per share on better than $9.2 billion in sales for fiscal Q3 2024. Starbucks nailed the earnings number, but its sales fell a bit short at only $9.1 billion.

Sales declined 1% year over year, hurt by a 5% decline in "comparable transactions" (which could mean less foot traffic, fewer customer orders placed per visit, or both), which was offset by a 2% increase in the size of orders when customers did order (which may indicate either bigger orders placed or higher prices being charged for the same cup of coffee).

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Source Fool.com