(NASDAQ: SBUX) shares have been on quite the run, rising 45% over the past 12 months (as of this writing). This compares very favorably to the S 500, which is up just 2% during the same time. Amidst the uncertain economic environment, Starbucks just posted solid financial results that shareholders can be happy about. But what's in store going forward?
Let's look at what's happening with this leading coffeehouse chain to see what investors should do with this top restaurant stock. In other words, is Starbucks a buy, sell, or hold?
In the most recent fiscal quarter (Q2 2023 ended April 2), Starbucks generated revenue of $8.7 billion, up 14% year over year. Diluted earnings per share (EPS) increased 36% compared to the year-ago period. Both of these figures beat Wall Street expectations. What's more impressive is that Starbucks' quarterly sales and diluted EPS were 38% and 49% higher, respectively, than the same period in 2019. This business struggled throughout the pandemic's height, but it appears to be on strong footing now.
Source Fool.com