Company News: Starbucks (SBUX) quarterly results beat analysts’ forecasts

Market news

30 October 2020

Company News: Starbucks (SBUX) quarterly results beat analysts’ forecasts

Starbucks (SBUX) reported Q4 FY 2020 earnings of $0.51 per share (versus $0.70 per share in Q4 FY 2019), beating analysts’ consensus estimate of $0.31 per share.

The company’s quarterly revenues amounted to $6.203 bln (-8.1% y/y), beating analysts’ consensus estimate of $6.074 bln.

The company also issued downside guidance for Q1 FY 2021, projecting EPS of $0.50-0.55 versus analysts’ consensus estimate of $0.64.

For the full FY 2021, it forecast EPS of $2.70-2.90 versus analysts’ consensus estimate of $2.74 and revenues of $28-29 bln versus analysts’ consensus estimate of $28.21 bln.

SBUX fell to $86.50 (-2.04%) in pre-market trading.

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