Starbucks Meets Wall Street’s Earnings Forecast

© Provided by CNBC

Starbucks (SBUX) delivered results that met expectations on Thursday, but shares dropped in after-hours trade.

Earnings rose to 43 cents a share from 37 cents in the year-earlier period. Revenue rose to $4.91 billion from $4.18 billion.

The coffee chain was forecast to deliver earnings of 43 cents per share on $4.9 billion in revenue, according to a Thomson Reuters estimate.

Its stock fell after the bell.

Systemwide same store sales rose 8 percent. Same-store sales were expected to rise6.9 percent, according to a Consensus Metrix estimate. Results in its China/Asia Pacific unit fell short of expectations. Comps rose 6 percent there, short of the 9.6 percent analysts were expecting.

Last month, the chain launched its mobile feature that enables mobile order and pay nationwide—a key initiative for the restaurant.

Written by Katie Little of CNBC

(Source: CNBC)

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