Friday 01 March 2024

Starbucks reports better-than-expected quarterly results for Q1 Fiscal 2019

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MILAN – Improved sales of holiday-themed drinks in the United States helped Starbucks achieve better-than-expected results exceeding Wall Street forecasts for quarterly sales on Thursday.

The world’s largest coffee chain reported earnings-per-share of 75 cents for the fiscal first quarter ended December 31, beating analysts’ estimates of 65 cents.

Starbucks posted revenue of $6.63 billion in the period, also surpassing forecasts of $6.49 billion..

The Seattle-based company reiterated its plan to open 2,100 net new stores globally in fiscal 2019. It expects full-year earnings in the range of $2.68 to $2.73 per share.

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