Starbucks (NASDAQ: SBUX) reported fourth-quarter 2020 financial results after the closing bell on Thursday. The coffee chain reported an 8% decline in Q4 revenues to $6.20 billion, which was better than the Wall Street consensus. Earnings of $0.51 per share also surpassed average analysts’ estimates by 20 cents.
SBUX shares fell 1% immediately following the announcement. The stock has traded almost flat so far this year.
CEO Kevin Johnson said, “The guiding principles we established at the onset of the pandemic, combined with our industry-leading digital platform and our ability to innovate rapidly, continue to fuel our recovery and provide confidence in a robust operating outlook for fiscal 2021. “
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