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Burger King Giving Away Free Coffee

Stocks in this article: MCD SBUX

NEW YORK ( TheStreet) -- Burger King is looking to steal market share from fast-food competitors in the morning hours by offering free coffee.

Burger King launched an enhanced breakfast platform this fall in U.S. and Canadian locations that includes new menu products and Seattle's Best coffee. The move was part of an effort to better compete with McDonald's (MCD), which itself has been stealing morning business from Starbucks (SBUX) with its successful McCafe offerings.

Now Burger King says it will offer patrons free 12-ounce cups of coffee every Friday in November during breakfast hours, and customers don't even have to buy anything to get the freebie.

Burger King, which recently agreed to a multibillion dollar private equity buyout , expects to give away as many as 4 million free cups of coffee, beverage items it normally sells for $1 apiece.

>>Burger King Agrees to Buyout

Starbucks said late Thursday its quarterly revenue grew by 17.2% to $2.8 billion, slightly higher than the $2.77 billion analysts were looking for. Global comparable same-store sales, or sales at stores open at least one year, grew 8%. Global traffic increased 5%.

>>Starbucks Percolates on Earnings Beat

McDonald's also beat quarterly expectations , saying last month that its nationwide promotion of McCafe Frappes and Smoothies, plus the everyday affordability of its Dollar Menu, helped boost sales in the quarter.

>> McDonald's Beats on Smoothie Sales Gain

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