Starbucks Corporation reported unaudited consolidated earnings results for the first quarter ended January 1, 2017. For the quarter, the company reported total net revenues of $5,732.9 million compared to $5,373.5 million a year ago. The increase was primarily driven by incremental revenues from the opening of 2,163 net new stores over the past 12 months and 3% growth in global comparable store sales. Operating income was $1,132.6 million compared to $1,058.0 million a year ago. The increase was partially offset by higher investments in store partners (employees), primarily in the Americas segment. Earnings before income taxes were $1,132.9 million compared to $1,049.6 million a year ago. Net earnings attributable to the company were $751.8 million or $0.51 per diluted share compared to $687.6 million or $0.46 per diluted share a year ago. Non-GAAP operating income was $1,146.6 million compared to $1,070.3 million a year ago. Non-GAAP net earnings per share were $0.52 compared to $0.46 a year ago.

The company reiterated earnings guidance for the fiscal year 2017. For 2017, consolidated revenue growth now expected to be in the range of 8% to 10%. The company continues to expect GAAP EPS in the range of $2.09 to $2.11 and non-GAAP EPS in the range of $2.12 to $2.14.