Shares of Starbucks Corp. (SBUX) - Get Report rose in post market trading Thursday, after the coffee giant reported better-than-expected results on both top and bottom lines, as well as strong forward looking guidance.
The stock gained 1.71% to $68.85 a share, after slipping by 2.54% to $64.74 in regular hours.
Earnings-per-share came in at 75 cents on an adjusted basis, beating estimates of an adjusted 65 cents a share. GAAP EPS also beat estimates, as the company reported 61 cents a share, beating expectations of 58 cents. That's a 15% growth rate, compared to analysts expectations of a 11.9% growth rate. Revenue was $6.6 billion, handily beating estimates of $4.89 billion. Total revenues grew 9%, beating estimates of 6.8%. Net income was $760 million.
Comparable sales in the U.S. grew at 4 % year-over-year to $4.2 billion. China sales grew 1% to $651 million.
Management guided for revenue growth of between 5% and 7% for the fiscal year of 2019 and global comparable stores growth of between 3% and 4%. Earnings-per-share for the full year of 2019 is expected to be between $2.63 and $2.73 on an adjusted basis. The average analyst expectations for adjusted EPS for the full year of 2019 is $2.65.
"Starbucks delivered solid operating results in the first quarter, demonstrating continued momentum in our business, as we drive our growth-at-scale agenda with focus and discipline," said Kevin Johnson, president and ceo. "We are particularly pleased with the sequential improvement in quarterly comparable store transactions in the U.S., underpinned by our digital initiatives and improved execution of our in-store experience," he added. Starbucks rewards members grew 14% to 16.3 million.
The stock is up 6.43% in the past year.