Shares of Starbucks (SBUX) are rising up to 8% in after hours trading. The roaster and marketer of specialty coffees reported a strong set of fourth quarter results after the close.
Fourth Quarter Results
Starbucks reported third quarter revenues of $3.36 billion, up 11% on the year. Growth was predominantly driven by comparable store sales growth of 6%, as a result of 5% increase in traffic and a 1% increase in pricing. Revenues fell short of analysts expectations of $3.39 billion.
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