Starbucks shares rise as earnings beat expectations

US coffee chain Starbucks has reported a stronger-than-expected rise in fourth quarter earnings on the back of solid sales in the North American market. In a statement, Starbucks chief financial officer Scott Maw said the fiscal fourth quarter "was the most profitable quarter – capping off the most profitable year" in the company's history. Starbucks opened 690 net new stores during the three-month period, bringing total stores to 25,085 in 75 countries worldwide.