Starbucks Sales Miss Expectations

Starbucks just released earnings results for the quarter ended December 31, 2013.

Earnings per share were $US0.71, better than the consensus $US0.69 Wall Street estimate. Revenue, however, was light — it came in at $US4.24 billion versus the Street’s $US4.29 billion estimate.

Meanwhile, global same-store sales were up 5%, below estimates for a 5.9% advance.

Shares fell more than 2% in after-hours trading following the release, but have since bounced back.

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