Starbucks Q4 Profit Meets Street Estimates, Top Line Misses

Starbucks posted fourth quarter earnings of $0.74 a share on revenue of $4.2 billion. Wall Street analysts were looking for earnings of $0.74 on sales of $4.23 billion.
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Starbucks posted fourth quarter earnings of $0.74 a share on revenue of $4.2 billion. Wall Street analysts were looking for earnings of $0.74 on sales of $4.23 billion. Last year, the coffee giant earned $0.63 per share on $3.8 billion in sales. As for details, global comparable store sales increased 5%, the 19th consecutive quarter of comp growth of 5% or more. The company opened 503 net new stores in the quarter, ending its fiscal year with 21,366 stores in 65 countries. The company’s board of directors also declared a cash dividend of $0.32 per share, an increase of 23%. TheStreet's Gregg Greenberg has details from New York.