Starbucks reports better than expected fourth quarter earnings

Posted Nov 5th 2009 5:40PM by Michael Fowlkes
Filed under: Major Movement, Earnings Reports, Forecasts, Good news, Competitive Strategy, Starbucks (SBUX)

Shares of Starbucks (NASDAQ: SBUX) are trading up in after hours trading today after the company posted strong Q4 earnings numbers after the market close.

As we noted in our earnings preview, the company was expected to show earnings for the quarter of 21 cents per share on $2.39 billion in revenues. The actual numbers came in at 24 cents per share with revenues of $2.4 billion.

Same store sales were also strong for the quarter. During the previous quarter the company reported a 5% drop in same store sales, and that figure shrank to just -1% during the fourth quarter.

Looking ahead the company sees full year 2010 EPS growing somewhere in the range of 15 to 20% from 2009.

Shares of Starbucks are trading up 3.4% in after hours trading.

Tags: after hours, AfterHours, coffee, earnings, featured, good news, GoodNews, SBUX, Starbucks