Starbucks Corp. Q4 Profit Increases, beats estimates

(RTTNews) - Starbucks Corp. (SBUX) released earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $1.22 billion, or $1.06 per share. This compares with $878.3 million, or $0.76 per share, in last year's fourth quarter.

Excluding items, Starbucks Corp. reported adjusted earnings of $1.06 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.4% to $9.37 billion from $8.41 billion last year.

Starbucks Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $1.22 Bln. vs. $878.3 Mln. last year. -EPS (Q4): $1.06 vs. $0.76 last year. -Analyst Estimate: $0.92 -Revenue (Q4): $9.37 Bln vs. $8.41 Bln last year.