Starbucks delivered results that met expectations and a key sales metric that topped forecasts on Thursday. Guidance for the current quarter was somewhat light, and 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 in the comparable period.
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 ticked lower after the bell. (Click here to track its shares after the bell.)
System-wide same store sales rose 8 percent as traffic rose in each of its reporting segments. Same-store sales were expected to rise 6.9 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.
During the current quarter, Starbucks expects to deliver earnings of 44 to 45 cents a share, shy of 47 cents per share analysts had expected.