Companies /Consumer Cyclical

Starbucks Corp

NASDAQ: SBUX Restaurants
$108.30
â–² $1.04 (+0.97%) today
Markets open · 3:25pm ET

Q4 2025 Earnings

Reported Oct 29, 2025, 4:08pm ET · SEC source
$0.52
Miss −5.97%
EPS · est. $0.55
$9.6B
Beat +2.32%
Revenue · est. $9.4B
+2.2%
Beating market
SBUX vs S&P since report
2 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0Oct 29Oct 30report 4:08pm ETearnings−0.2%−4.4%
−6%−3%0Oct 29Oct 30earnings−0.2%−4.4%
SBUX −4.4%S&P 500 −0.2%
−6%−3%0Oct 29Oct 30report 4:08pm ETearnings−0.1%−4.4%
−6%−3%0Oct 29Oct 30earnings−0.1%−4.4%
SBUX −4.4%NASDAQ −0.1%
−6%−3%0+3%Oct 28Nov 6report 4:08pm ETearnings−2.1%−1.3%
−6%−3%0+3%Oct 28Nov 6earnings−2.1%−1.3%
SBUX −1.3%S&P 500 −2.1%
−6%−3%0+3%Oct 28Nov 6report 4:08pm ETearnings−3.4%−1.3%
−6%−3%0+3%Oct 28Nov 6earnings−3.4%−1.3%
SBUX −1.3%NASDAQ −3.4%
−1.21%
Day of report
−2.74%
Next session
−1.12%
One week
+2.47%
30 days

S&P 500 over the same 30 days: +0.25%.

Did SBUX Beat Earnings? Q4 2025 Results

Starbucks posted a mixed but symbolically significant Q4 FY2025, delivering a closely watched revenue beat while falling short on earnings as heavy restructuring costs clouded an otherwise encouraging operational recovery. Revenue rose 5.5% year-over-year to $9.57 billion, topping the $9.36 billion consensus by 2.28%, yet non-GAAP EPS of $0.52 missed the $0.58 estimate by 10.34%, weighed down by $755 million in restructuring and impairment charges tied to the planned closure of 627 underperforming stores. The headline figure investors had been watching most closely, however, was global comparable store sales growth turning positive for the first time in seven quarters, a pivotal milestone for CEO Brian Niccol's "Back to Starbucks" turnaround strategy. GAAP operating margin collapsed to 2.9% from 14.4% a year ago, underscoring the near-term cost of transformation. As Niccol frames it, this is a multi-year effort, with no specific FY2026 guidance offered; <a href="https://247wallst.com/investing/2025/10/29/live-complete-starbucks-sbux-earnings-coverage/">the full earnings picture</a> reflects a company accepting short-term pain in pursuit of durable, long-term growth.

Key Takeaways
  • Return to positive global comparable store sales growth for the first time in seven quarters
  • Net new company-operated store growth of 4% in North America and 5% in International over past 12 months
  • International comparable transactions increased 6% in Q4
  • China comparable transactions increased 9% in Q4
  • Channel Development revenue boosted by Global Coffee Alliance growth of 17%
  • U.S. comparable store sales turned positive in September

“We're a year into our 'Back to Starbucks' strategy, and it's clear that our turnaround is taking hold. Our return to global comp growth and the momentum we're building give me confidence we're on the right path to deliver the very best of Starbucks for our customers, partners and shareholders.”

Starbucks CEO, on the earnings call

Forward Guidance & Outlook

Management characterized this as a multi-year turnaround, expressing confidence in the "Back to Starbucks" strategy building momentum. The company remains focused on driving the topline while managing controllable costs to deliver durable, sustainable growth and long-term shareholder value. No specific financial guidance was provided for FY2026.

SBUX YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$3.0B$6.0B$9.0B$9.1B$9.6BRevenue$1.3B$278.2MOperating Income$909.2M$133.1MNet Income
$0$3.0B$6.0B$9.0BRevenueOperating IncomeNet Income

SBUX Revenue by Segment

Company-Operated Stores$7.9B+5.6%
Licensed Stores$1.1B−3.2%
Channel Development$542.6M+17.0%

SBUX Revenue by Geography

North America
United States$6.4B+3.0%
International
China$831.6M+6.0%

Figures from SEC filings and company reports. Not investment advice.