Starbucks earnings in line, but revenue disappoints


Coffee chain Starbucks reported quarterly earnings that met analysts' expectations, but its revenue and outlook fell short of forecasts on Thursday.

After the report, its stock fell in extended-hours trade. (Click here to track its shares following the report.)

A Starbucks location in New York.
Scott Mlyn | CNBC

The company's fiscal fourth-quarter earnings rose to 74 cents per share from 60 cents a share in the year-earlier period.

Revenue increased 10 percent to $4.18 billion from $3.80 billion a year ago, but this marked the low end of Wall Street's forecast for the quarter.

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Wall Street analysts had expected Starbucks would deliver fully reported earnings of 74 cents a share on $4.23 billion in revenue, according to a consensus estimate from Thomson Reuters.

During the quarter, sales at company-owned stores open 13 months or longer rose 5 percent, slightly lower than forecast. Global comparable same store sales were expected to rise 5.9 percent, according to a consensus estimate from Consensus Metrix.

Starbucks comp miss stands out: Pro

"The top line wasn't that big a deal, but the comp miss is something that stands out," said Rob Plaza of Key Private Bank, who doesn't hold a position in Starbucks stock but whose firm does, on CNBC's "Closing Bell."

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For the fiscal 2015, the company expects earnings per share on a non-GAAP basis of $3.08 to $3.13. This fell short of estimates of $3.16 per share for the full year.

Earlier this month, Starbucks unveiled its plans for the upcoming holiday season, including its first handcrafted holiday beverage in five years and a contest in which customers can win Starbucks for life.

It also plans to roll out mobile ordering and payment nationwide next year as the latest stage for its mobile program. Mobile payments now account for more than 15 percent of all transactions at its U.S. company-operated stores, it told analysts in July.