Shares of the company rose more than 6% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:
- Earnings per share: $1.06 adjusted vs. 97 cents expected
- Revenue: $9.37 billion vs. $9.29 billion expected
The coffee giant reported fiscal fourth-quarter net income attributable to the company of $1.22 billion, or $1.06 per share, up from $878.3 million, or 76 cents per share, a year earlier.
Net sales climbed 11.4% to $9.37 billion.
The company’s same-store sales rose 8%, fueled by higher average checks and a 3% increase in customer traffic to its cafes.
Starbucks said it would share its full-year outlook for fiscal 2024 on its investor conference call.
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