Starbucks Corp. says more customers visited its stores worldwide, helping it deliver major sales gains for its fiscal fourth quarter.
The Seattle-based coffee giant earned $652.5 million, or 43 cents, for the most recent period, meeting analyst forecasts according to FactSet.
Revenue jumped nearly 18 percent to $4.91 billion, just ahead of market forecasts of $4.9 billion.
For the current quarter ending in January, Starbucks expects its per-share earnings to range from 44 cents to 45 cents. The company expects full-year earnings in the range of $1.87 to $1.89 per share.
Starbucks shares have increased 52 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 1 percent.
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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBUX at http://www.zacks.com/ap/SBUX
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Keywords: Starbucks, Earnings Report, Priority Earnings