Starbucks earnings (NASDAQ:SBUX) were better than what analysts were calling for during the company’s most recent quarter, sending SBUX stock soaring late in the day.
The coffee chain said that for its fourth quarter of fiscal 2018, it brought in adjusted earnings of 62 cents per share, according to data compiled by analysts who were polled by Refinitiv. The company added that its revenue for the period tallied up to $6.30 billion, which is stronger than what it amassed during the year-ago quarter by a 3% increase, while also topping the $6.27 billion that analysts were calling for in their consensus estimate, according to data compiled by Refinitiv.
Starbucks added that its global same-store sales for the period were up by 3% compared to the year-ago quarter, which was also better than the 2.3% gain that analysts were calling for, per Refinitiv. Throughout the course of the period, the company posted better-than-expected same-store sales in all four of its major markets.
In the U.S. and Americas, the chain’s same-store sales were up by 4% compared to the year-ago quarter, which is better than the 2.7% gain that analysts were calling for, per Refinitiv.
SBUX stock was up about 0.6% during regular trading hours Thursday in anticipation of the company’s quarterly earnings results. Shares gained about 8.8% after the bell on its results, the company added.
