SEATTLE (AP) _ Starbucks Corp. (SBUX) on Thursday reported fiscal fourth-quarter net income of $788.5 million.
On a per-share basis, the Seattle-based company said it had net income of 54 cents. Earnings, adjusted for non-recurring costs, were 55 cents per share.
The results matched Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was also for earnings of 55 cents per share.
The coffee chain posted revenue of $5.7 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $5.73 billion.
Starbucks shares have fallen 1 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 15 percent. In the final minutes of trading on Thursday, shares hit $54.87, an increase of almost 4 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBUX at https://www.zacks.com/ap/SBUX
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