Starbucks Corp. Q4 Profit Decreases, but beats estimates

(RTTNews) - Starbucks Corp. (SBUX) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $0.88 billion, or $0.76 per share. This compares with $1.76 billion, or $1.49 per share, in last year's fourth quarter.

Excluding items, Starbucks Corp. reported adjusted earnings of $0.81 per share for the period.

Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.2% to $8.41 billion from $8.15 billion last year.

Starbucks Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $0.88 Bln. vs. $1.76 Bln. last year. -EPS (Q4): $0.76 vs. $1.49 last year. -Analyst Estimates: $0.72 -Revenue (Q4): $8.41 Bln vs. $8.15 Bln last year.