Starbucks: Fiscal 4Q Earnings Snapshot
SEATTLE (AP) _ Starbucks Corp. (SBUX) on Thursday reported fiscal fourth-quarter net income of $392.6 million.
On a per-share basis, the Seattle-based company said it had profit of 33 cents. Earnings, adjusted for non-recurring costs, were 51 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The coffee chain posted revenue of $6.2 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $6.08 billion.
For the current quarter ending in January, Starbucks expects its per-share earnings to range from 50 cents to 55 cents.
The company expects full-year earnings in the range of $2.70 to $2.90 per share.
Starbucks shares have risen slightly since the beginning of the year, while the Standard & Poor's 500 index has increased 2.5%. In the final minutes of trading on Thursday, shares hit $88.30, an increase of 5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBUX at https://www.zacks.com/ap/SBUX
