Mark Makela | Reuters

Shares of Starbucks rose more than 3 percent Friday in premarket trading after the company reported better-than-expected sales and earnings growth late Thursday, with customers spending more on their lattes and Frappuccinos. "We are particularly pleased with the sequential improvement in quarterly comparable store transactions in the U.S., underpinned by our digital initiatives and improved execution of our in-store experience," CEO Kevin Johnson said in a statement. "With this solid start to the fiscal year, we are on track to deliver on our full-year commitments."

Starbucks said net income fell to $760.6 million, or 61 cents per share, from $2.25 billion, or $1.57 per share, a year ago. The company said it earned 75 cents per share on a non-GAAP basis. After stripping out a 7-cent gain from income tax items, Starbucks earned 68 cents per share, topping analysts' estimates of 65 cents per share. The coffee giant said revenue rose 9 percent to $6.63 billion, beating Refinitiv estimates of $6.49 billion for the quarter. Overall same-store sales rose 4 percent for the quarter that ended Dec. 30.

While the number of transactions in the U.S. remained flat, Starbucks reported same-store sales growth of 4 percent thanks to a 3 percent bump in the average check size. Wall Street was expecting to see same-store sales increase by 3.2 percent. The company's iced beverages led growth with its Refreshers, iced espresso and iced coffee drinks proving popular with customers all day. "We also saw continued improvement in cold beverages," Starbucks Chief Operating Officer Rosalind Brewer told CNBC. "So we continue to learn that cold beverages sell all year long."

The company also increased the number of rewards members to 16.3 million people, a year-over-year increase of 14 percent. Johnson said that the company is changing the loyalty program so customers can earn and redeem rewards more quickly and across a broader range of products. The company beat same-store sales estimates for China/Asia Pacific. Starbucks reported an increase of 3 percent in the region, with transactions growing by 1 percent. In China, in particular, the company saw transactions drop by 2 percent, while stores open at least a year increased sales by 1 percent.