Starbucks (SBUX) reported stronger-than-expected earnings on Thursday sending its shares higher.
For the fourth quarter, the coffee giant delivered non-GAAP earning per share of 62, outpacing estimates of 60 cents. Revenue for the fourth quarter came in at $6.3 billion, versus estimates of $6.27 billion.
The closely watched comparable store sales number came in 3%, beating the 2.2% analysts had forecasted. The U.S. saw comp-store sales up 4%, while China’s comp store sales were up 1%.
“Starbucks record Q4 performance reflected meaningful improvement in virtually every critical operating metric compared to Q3,” CEO Kevin Johnson said in a statement. “As we enter fiscal 2019, we are executing against a clear growth agenda, with a focus on our long-term growth markets of the U.S. and China. We are also excited about the long-term growth potential of our new Global Coffee Alliance with Nestlé. I’m incredibly proud of our 350,000 Starbucks partners around the world and pleased with the continued progress in our growth agenda.”
In the U.S., Starbucks Rewards membership jumped 15% year-over-year to 15.3 million. The mobile order and pay in the U.S. made up 14% of transactions.
Starbucks now has 29,000 stores worldwide.
Shares of Starbucks were last trading up about 9.3% in the after-hours session.
Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter.
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