On Friday, shares of Starbucks were trading more than 3 per cent higher in pre-open trading as the company delivered better third-quarter results.

Starbucks reported an EPS (Earnings per share) of USD 0.81 on revenue of USD 8.4 billion. On a 13-week basis, revenue increased by 3 per cent. The company said its global comparable store sales were up 7 per cent, primarily driven by the robust performance in North America. However, comparable sales in China plunged by 16 per cent.

Also, the average ticket price was up 8 per cent, which offset a drop of 1 per cent in the international average ticket price. Starbucks expects steady US growth, accompanied by a recovery in China.

Founded in 1971, Starbucks is a multinational chain of coffeehouses. Headquartered in Seattle, it is the world’s largest coffeehouse chain.