Starbucks (NASDAQ:SBUX) delivered a strong Q4 earnings report, exceeding Street forecasts and driving its shares up over 12% pre-market today.
The company saw an 8% rise in global comparable sales, outshining the anticipated 6.3%. This growth was mirrored in the U.S. with an 8% increase in comparable sales, although international same-store sales experienced a modest 5% rise, just shy of the 6.3% forecast. In China, Starbucks outperformed expectations with a 5% growth in comparable sales against the predicted 4.6%.
The coffee giant reported an adjusted earnings per share of $1.06, surpassing the analysts’ consensus of 97 cents. Its net revenue hit $9.4 billion for the quarter, topping the projected $9.29 billion.