Starbucks Beats Earnings, Misses Revenue Estimates For Q1 FY16

Starbucks Corp. (SBUX – Analyst Report) just released their first quarter fiscal 2016 earnings results, posting $0.46 for an earnings beat but a slight revenue miss of $5.373 billion.

Currently, SBUX has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Starbucks:

1. Beat earnings estimates. The company posted $0.46, beating our Zacks Consensus Estimate of $0.45. This number excludes $0.01 from non-recurring items

2. Missed revenue estimates. The company saw revenue figures of $5.373 billion, missing our estimate of $5.378 billion. However, this number is a 12% increase from Q1 FY15.

3. Strong holiday performance drives 9% comp growth in the United States and the and Americas, as well as 8% globally.

4. “Starbucks record Q1 2016 financial and operating results, highlighted by comp sales increases of 9% in the U.S., 8% globally, another 4% increase in global traffic – and record performance from our Channel Development segment – underscore the accelerating strength and relevance of the Starbucks brand around the world,” said Howard Schultz, Starbucks Chairman and CEO. “Successful retail, CPG, digital, mobile, loyalty, card and investment strategies are combining to accelerate our revenue growth and drive significant margin expansion and EPS leverage.”

5. SBUX was down $2.72, or 4.62%, to $56.24 as of 4:26 PM ET in after hours trading shortly after its earnings report was released.

Here’s a graph that looks at Starbucks’ quarterly revenue and growth rate:

Starbucks Corporation (SBUX – Analyst Report) Quarterly Revenue & Growth Rate | FindTheCompany

Starbucks is one of the most popular coffee chains, purchasing and roasting high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian-style espresso beverages, a variety of pastries and confections, and coffee-related equipment at its retail stores. The company also sells its whole bean coffees through a specialty sales group and supermarket chains. Starbucks was founded in 1971 and is headquartered in Seattle, Washington.