The coffee giant boosted its profit outlook beyond market expectations and announced a $1 billion share repurchase plan as CEO Brian Niccol pushes ahead with his turnaround strategy.
The company expects adjusted earnings of $3.15 to $3.25 per share in fiscal 2027, slightly above analysts’ estimate of $3.14.
The coffee giant also reported a 7.2% rise in global same-store sales in the fourth quarter, beating expectations of 5.4%.
Adjusted earnings reached 80 cents per share, surpassing estimates of 72 cents.
However, Starbucks shares fell about 2% in extended trading after it projected a 1% annual revenue decline, partly reflecting the sale of control of its Chinese business in a $4 billion deal with Boyu Capital.