Starbucks (SBUX: sentiment, chart, options) said after the close that fourth-quarter net profit jumped to $158.5 million, or 21 cents per share, up from $117.3 million in the year-ago period. Total revenue was 22% higher at $2.44 billion.
Both headline numbers matched Wall Street's consensus view. According to Briefing.com, this marks the sixth consecutive quarter that SBUX earnings were in line with analysts' expectations.
Looking forward, however, Starbucks reduced its fiscal 2008 financial targets, citing a fade in consumer spending and an increase in commodity costs. For 2008, the Seattle-based coffee giant expects per-share results of $1.02 to $1.05 and first-quarter earnings of 28 cents per share.
In after-hours trading, the stock has dropped more than 6%, putting it a hair away from a new 52-week low.
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