Starbucks Reports Piping Hot Q3 Results as Revenue Surges 11%

Starbucks posted third quarter earnings of 67 cents a share on revenue of $4.2 billion. Wall Street analysts were looking for 66 cents a share on sales of $4.14 billion. Last year, the company earned 55 cents a share on $3.74 billion in revenue. Comp store sales increases of 6% globally and 7% in the U.S. were the key to the 11% jump in revenue, and 22% spike in EPS. China/Asia Pacific comp sales increased 7%. The company also opened 344 net new stores globally, ending the quarter with 20,863 stores across 64 countries. TheStreet's Gregg Greenberg has details from New York.