Starbucks revenue misses estimates
Starbucks reported disappointing fourth-quarter sales and first-quarter outlook, as revenue missed estimates.
Starbucks Corp.
$98.42
13:00 15/11/24
-0.82%
-$0.81
The coffee-house giant reported a profit of $587.9m compared with a loss of $1.23bn in the corresponding period in 2013, as its adjusted per-share profit came to 74 cents, matching consensus.
Total revenue rose 10.3% to $4.18bn, missing the FactSet estimate of $4.24bn, while the company added it expects adjusted first-quarter profit to be between 79 cents to 81 cents a share and per-share profit for the financial year 2015 to be between $3.08 and $3.13 a share.
Analysts were looking for profit of 83 cents a share in the first quarter and $3.17 a share for the year.
Starbucks shares fell 4.3% in after-hours trading on Thursday.