Starbucks profits rise 35%, stock price falls

Seattle (AP) - Starbucks reported today that its fourth quarter profit jumped 35% despite a slight slowdown in store openings.

The Seattle coffee chain reported net earnings of $159 million dollars. Revenue increased 22% to $2.4 billion compared to one year ago. Starbucks opened 615 stores in their latest quarter boosting its worldwide count to 15,011. Same store sales increased 4% - toward the low end of the company's guidance.

In after hour trading on November 15 as of 6:11 p.m., Starbucks (sbux) stock price plunged $2.08 per share or -8.63%.