SEATTLE – SEATTLE (AP) _ Starbucks Corp. (SBUX) on Thursday reported profit of $587.9 million in its fiscal fourth quarter.
The Seattle-based company said it had profit of 77 cents per share. Earnings, adjusted for non-recurring gains, came to 74 cents per share.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The coffee chain posted revenue of $4.18 billion in the period, also missing Street forecasts. Analysts expected $4.23 billion, according to Zacks.
For the current quarter ending in December, Starbucks expects its per-share earnings to range from 79 cents to 81 cents.
The company expects full-year earnings in the range of $3.08 to $3.13 per share.
Starbucks shares have dropped slightly more than 1 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 8 per cent. In the final minutes of trading on Thursday, shares hit $77.35, a fall of slightly more than 4 per cent in the last 12 months.
_____
This story was generated by Automated Insights using data from Zacks Investment Research. SBUX stock research report from Zacks.
_____
Keywords:Starbucks,Earnings Report,Priority Earnings
