Why Starbucks Earnings Are Expected to Percolate

Starbucks' caffeinated performance is expected to continue when the coffee giant reports earnings Thursday.

The Street is currently looking for 12 percent revenue growth to $3.84 billion with 14 percent earnings-per-share growth to $.57 a share.

Analysts are generally upbeat about 2013 as commodity costs come down and as the company begins to integrate its bakery, juice, and tea acquisitions. (Read More: Hate Coffee? Starbucks Will Get You Yet.)

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Wall Street will also want updates on how sales of the Verismo single serve coffee maker, as well as news on the attempted turnaround in Europe.

Starbucks has announced it will open 1,500 more stores in the U.S. over five years, even as it faces more competition. Dunkin' Donuts recently revealed plans to return to the important California market with 150 stores, and actor Patrick Dempsey has purchased Tully's in Starbucks' home town of Seattle. (Read More: How 'McDreamy' Plans to Resuscitate Tully's Coffee.)

—By CNBC's Jane Wells; Follow her on Twitter: @janewells