Coffee retailer Starbucks (SBUX) has reported fourth-quarter earnings, beating estimates as global same-store sales rose by 8%.

David Wagner, Aptus Capital Advisors CFA, Equity Analyst & Portfolio Manager, notes "a pretty clean beat" for Starbucks after figures from its business in China came out better than expected.

Revenue guidance "shouldn't weigh on the stock too much, in my mind," Wagner tells Yahoo Finance. "If you get revenue growth around 10%, that actually should equate to mid-single-digit comps [comparable sales]."

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Video Transcript

BRAD SMITH: David, we'd love to get your broad read on the bright spots for Starbucks earnings report. And we, ultimately, did point out there that weakness that they did see in China.

DAVID WAGNER: Yeah. I actually think China was a little bit better than expected. But as you just mentioned, and Brooke just mentioned, this was a pretty clean beat. And metrics were basically better than anticipated across the board. And then guidance came on in pretty strong, really, nullifying a lot of some of those naysayers.

I think that what we saw Laxman, CEOs are cognizant of the macro situation. But they're not talking about a recession at all. You saw this stock jump after the earnings call. I think investors really welcomed the commentary actually on China. And some of the growth was better than anticipated there, but mostly from the statements around the momentum that the company continues to see specifically in North America.

You saw strength in traffic, strength in overall ticket spend. Somewhat really nullifying the bears thesis that a slowing consumer spending was going to inhibit future results. But the big focus today is actually going to be on the upcoming investor meeting this afternoon, where we should get a little bit more information on the company's annual growth targets and the new program that they have out there.

But the company did reiterate on the call that their long-term EPS guidance is still 10% to 15%. Revenue growth, 10% to 12% over the next year. But the big question on investors' minds, I think, were if the company can keep that really high bar set for the comps outlook, which the company said long-term should be around 7% to 9%. But maybe this was somewhat expected. The company came out and actually guided growth 5% to 7%. But this shouldn't weigh on the stock too much in my mind. Because my math, if you get revenue growth around 10%, that actually should equate to mid-single digit comps.

And the company still guided revenue growth next year of 10% to 12% albeit, Laxman said at the lower end of that range. So maybe this was more of a de-risking event for the company, as these comps should be more obtainable. So 9% up on the stock, that seems about right.