Starbucks reported fiscal fourth-quarter results after the market close on Thursday.
The company’s adjusted earnings per share of $0.43 were exactly as analysts expected, according to Bloomberg. Net revenues totaled $4.91 billion, scraping the estimate for $4.90.
However, the company’s projections for its first-quarter profits fell short of estimates, at a range of $0.44 to $0.45 versus $0.47 expected.
Starbucks reported better-than-expected sales in the Americas at stores open for at least one year. So-called same-store sales rose 8%, beating the forecast for a 6.9% increase.
Guidance for global same-store sales was better than expected. The coffee chain forecast an increase of 8%, while analysts had estimated a 7% increase.
Revenues in the China/Asia Pacific region jumped 110% compared to the same quarter a year ago, although that increase was driven by revenues from the acquisition of Starbucks Japan last September.
The stock fell by as much as 3.6% in after-hours trading. Year-to-date, it’s up 52%.
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The results “underscore the success of the investments we continue to make in our people and business, in new beverage and food innovation and in groundbreaking technology innovation that is deepening our connection to customers everywhere,” according to chairman Howard Schultz in the earnings statement.