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Starbucks Tumbles After Reporting Weak Earnings

Ashley LutzOct 31, 2014, 01:43 IST

Starbucks shares are falling after the company reported earnings that were slightly weaker than expected.

The coffee chain reported earnings-per-share of $0.74 for fiscal Q4, in-line with analysts' estimates. Net revenue came in at $4.18 billion, short of the $4.24 billion expectation.

The stock was down 5% in after-market trading.

"Starbucks performance in fiscal 2014 was extraordinary by any metric or comparison," CEO Howard Schultz said in a statement.

Comparable stores sales increased 5%, and the company boosted its outlook for 2015.