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10/28, 10:07 PM (Source: TeleTrader)
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Starbucks Q4 revenue up 31% to record $8.1 billion

Starbucks coffee company reported its financial results for the fourth fiscal quarter of 2021 on Thursday, marking a 31% jump in revenue from the comparable period of last year to a record amount of $8.1 billion. The earnings per share soared 351.5% year-on-year to $1.49. Meanwhile, the store sales were 17% higher than in the last quarter of 2020.

For the entire fiscal year of 2021, Starbucks increased its revenue by 24% to $29.1 billion, while the operating income was up 212% to $4.8 billion. Yearly earnings per share advanced by 348% from $0.79 to $3.54 per share.

"Our strong finish to fiscal 2021, including record performance in the fourth quarter, demonstrates the resilience of Starbucks and reinforces the value of the bold strategic moves we have taken over the past two years. [...] Today we announce we will be doubling-down on our investments in our partners, the heartbeat of our company," said Kevin Johnson, Starbucks President and CEO.

Following the report, Starbucks stocks dropped by 1.61% in the after-hours trading to sell for $111.38 er share at 4:20 pm ET.

Breaking the News / LH