Starbucks Corporation (NASDAQ: SBUX) reported fourth quarter 2023 earnings results today.
Consolidated net revenues increased 11% to $9.4 billion versus the same period a year ago.
Global comparable store sales grew 8%.
Net earnings attributable to Starbucks rose 39% to $1.22 billion, or $1.06 per share, from last year. Adjusted EPS grew 31% to $1.06.
Both revenue and earnings beat expectations, sending the stock up over 7% in premarket hours on Thursday.
The company opened 816 net new stores in Q4, ending the period with 38,038 stores.