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Starbucks'(SBUX) fiscal fourth-quarter results pleased investors after the close, as same-store sales growth in the key Americas region ramped up after a stagnant few quarters. Starbucks stock soared in late trading, signaling a breakout past a buy point on Friday.
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After recording lackluster U.S. comparable sales gains of 2%, 1% and 2% in the previous three quarters, Starbucks recorded 4% U.S. comps and beat estimates across the board.
Starbucks Earnings
Estimates: Analysts polled by Zacks Investment Research expected Starbucks earnings per share up 7% to 59 cents on 9% revenue growth to $ 6.2 trillion. Consensus Metrix expects 2.2% overall same-store sales growth, including 2.8% comps in the Americas market.
results: Starbucks earnings rose to 62 cents on share of $ 6.3 billion. Comps rose 3% globally, powered by 3% growth in average tickets.
The overall comps included 4% growth in the Americas and U.S., has 1% rise in China-Asia Pacific and 2% growth in its Europe, Middle East and Africa segment.
Outlook: For 2019, Starbucks expects $ 2.61- $ 2.66 in per-share earnings and consolidated revenue growth of 5% -7%. The midpoint of this outlook is worth $ 2.62 per share and 5% sales growth.
Starbucks Stock
Shares shot up 8.7% to 63.75 in late trading. That signals a gap up to 59.80 handle buy point from a messy nine-month consolidation. Starbucks stock closed up 0.6% to 58.63 on the stock market today.
Early last month, Starbucks stock got a boost when activist investor Ackman Bill of Pershing Square Capital disclosed a $ 900 million stake.
Starbucks Earnings Follow Strong Dunkin 'Results
In the Starbucks earnings report, look for the latest active Starbucks Rewards membership figures.
The company is holding an investor day on Dec. 13 in New York City.
The Starbucks earnings report also comes after Dunkin 'Brands (DNKN) reported strong results and announced plans to drop the word "Donuts" from its stores.
Shares dipped 1.2% Thursday.
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