Starbucks' revenue up 7% YoY to $6.75B in Q4

Wednesday, 30. October 2019 21:11

Starbucks Corporation said on Wednesday that its revenue for the fourth quarter of fiscal 2019 amounted to $6.75 billion, beating the estimates with a 7% rise year-over-year. Meanwhile, diluted earnings per share (EPS) surged 20% compared to the same period the previous year to reach $0.67 but failed to meet the projections that saw the company's EPS standing at $0.70.

Total operating income stood at $1.08 billion, a 13.2% jump on an annual basis. Starbucks opened 630 new stores worldwide to reach 31,256 in total at the end of the fourth quarter of 2019. In this category, the company beat results from the same quarter a year prior, jumping 7%.

"Our strong performance throughout fiscal 2019 gives us confidence in a robust operating outlook for fiscal 2020. The investments we are making for the long term---in our partners, our stores, beverage innovation and digital---are collectively delivering an elevated Starbucks Experience, as evidenced by all-time-high customer connection scores in the fourth quarter," the company's chief executive officer Kevin Johnson stated.

Starbucks' stock rose 2.87% in after-hours trading after the publication of the earnings report.

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Breaking the News / GA