Starbucks turns 4Q profit

Coffee chain Starbucks reported Thursday fiscal fourth-quarter earnings of $587.9 million, or 77 cents a share, compared to a loss of $1.23 billion, or $1.64 a share, in the same quarter last year.

Revenue grew 10 percent to $4.18 billion. Analysts expected $4.23 billion, according to Fox Business.

At the end of its fourth quarter, Starbucks had 21,366 stores, reflecting a net gain of 503.

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