Monday 03 October 2022

Starbucks posts better-than expected earnings for fiscal 4Q

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MILAN – Shares of Starbucks Corp. rose 1.6 percent in Thursday’s extended session after the world’s biggest coffee chain posted better-than-expected earnings for the fiscal fourth quarter and announced a dividend hike.

The Seattle-based company said it had net income of 54 cents per share. Earnings, adjusted for non-recurring costs, came to 56 cents per share.

The coffee chain posted revenue of $5.71 billion in the period, also topping consensus.

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