Starbucks Inc. (SBUX) - Get Report shares traded higher Thursday after the world's biggest coffee chain guided for solid revenue growth in its 2020 fiscal year after meeting Wall Street profit forecasts thanks to improving U.S. sales. 

Starbucks said earnings for the three months ending in September, its fiscal fourth quarter, came in at 70 cents per share, up 12.9% from the same period last year and largely in-line with the Street consensus forecast. Group revenues also matched analysts' estimates, rising 6.34% to $6.7 billion as same store sales around its global network rose 5%, and comparable U.S sales rose 6%.

Looking into the 2020 fiscal year, Starbucks said it sees earnings in the region of $3.00 to $3.05 per share, compared to a $2.83 tally for 2019, and revenue growth of between 6% and 8%, implying a topline of around $28.4 billion.

"Our fiscal 2019 results not only reinforce our confidence in the strategies we're implementing to grow the business, but also demonstrate the robustness of our long-term double-digit EPS growth algorithm," CFO Pat Grismer told investors on a conference all late Wednesday. "We expect that fiscal 2020 will be another good year for Starbucks, delivering 8% to 10% operating profit growth. This demonstrates that we are executing very well from an operational perspective, underpinned by continued focus in discipline."

"We are fully committed to our long-term model of double-digit non-GAAP EPS growth and will continue to make the investments necessary to sustain this growth over the long term," he added.

Starbucks shares were marked 1% higher Thursday to change hands at $85.00 each, a move that would extend the stock's year-to-date gain past 32% and give it a market value of around $101 billion. 

"Overall, momentum in the business is healthy, particularly in the US and China. Simultaneously, margins have a logical path for improvement in '20 and beyond as tighter cost controls become a bigger focus," said Oppenheimer analyst Brian Bittner,, who carries an outperform rating and a $105 price target on the stock. "This suggests the attractive core 10%+ earnings growth model remains on track."