The financial reporting season is in full swing now. It is time to account for the third fiscal quarter for the American Starbucks Corporation. We recall that the company owns the largest and, perhaps, the most famous chain of coffee stores in the world. The result delighted the investors – the company showed an absolute record on revenue.
The following details became known from the press release: the revenue for the third quarter (from April to June of the current year) increased by 11.5% compared to the previous quarter and amounted to USD 6.31 billion.
The net profit of Starbucks Corporation for the same reporting period was equal to 852.5 million US dollars. This is $ 0.61 per share. For comparison, for the same period last year, the profit was equal to 691.6 million US dollars (0.47 US dollars per share of the company).
Another important economic indicator – profit excluding one-time factors – was equal to 0.62 USD per share.
A consensus forecast made by analysts before the release of the company’s official financial statements indicated $ 0.61 per share as the adjusted earnings value. The figure of 6.25 billion US dollars was called as the expected volume of revenue. Thus, the reality proved to be better than forecasts.
Last quarter Sales of Starbucks increased by 1% (experts expected the growth of 0.9%), the US market showed an increase of 1%, and the Chinese – a fall of 2%.
There is a forecast that global comparable sales in the current financial year will increase by 3-5%, adjusted earnings will be $ 2.41 per share.
Such growth is not surprising, because in the current year it is planned to open 2,300 new coffee stores under the Starbucks brand.
Starbucks shares show robust growth due to this strong reporting.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade