Starbucks Corporation reported on Thursday that its diluted net earnings per common share in the fourth quarter of its fiscal year 2023 surged 39.5% year on year to $1.06. Total net revenues amounted to $9.37 billion, 11.4% higher compared to the final trimester in 2022 and operating income soared 42.7% to 1.7% billion.
In comparison to the full fiscal 2022, total net revenues, operating income and diluted net earnings per common share rose by 11.6%, 27.1% and 26.5% to $35.98 billion, $5.87 billion and $3.58, respectively, in the entire fiscal 2023.
"We are proud that our full fiscal year 2024 guidance will be grounded on a balance of both revenue growth and margin expansion," CFO Rachel Ruggeri noted. Company shares were 7.83% higher in premarket trading after the earnings report was published.
