Starbucks (SBUX) 4Q Earnings Up 16 Percent During Strong Holiday Sales

January 26, 2012, 10:30 PM

Starbucks Corp. (Nasdaq:SBUX) said on Thursday that its earnings were up 16 percent in the fourth quarter as it saw a strong coffee sales during the holiday season.

“Starbucks continues to expand our global footprint and accelerate the innovation and momentum in our CPG business,” “We are well positioned to continue to drive strong revenue and profit growth throughout this year, and in years to come.” Howard Schultz, Starbucks chairman, president and CEO, said in a statement.

As customers frequented its stores, its fourth quarter earnings rose to $382.1 million, or 50 cents per share, compared to earnings of $346.6 million, or 45 cents per share, a year previously. Analysts predicted earnings of 49 cents per share. Revenue gained 16 percent to $3.44 billion. Analysts were predicting revenue of of $3.29 billion.

For the full 2012 year, Starbucks gave an outlook to expect between $1.78 to $1.82 per share, missing analysts outlook of $1.83 per share.

Shares were down $1.03 to $47.31 in after market trading on Thursday.

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Tags: 4q, Nasdaq, sbux, starbucks corp