Starbucks, which owns the world's largest coffee chain, returned to profitable levels in the third quarter of fiscal year 2021, which ended June 27, and received revenue above market forecasts. The company's quarterly revenue jumped 77.6% to $ 7.497 billion from $ 4.222 billion a year earlier, better than the market consensus of $ 7.29 billion. Net income for the quarter was $ 1.153 billion, or $ 0.97 per share, compared with a net loss of $ 678.4 million, or $ 0.58 per share, for the same period the previous year. Adjusted earnings of $ 1.01 per share versus a loss of $ 0.46 per share a year earlier versus market expectations of $ 0.78 per share.
Starbucks' global comparable sales rose 73% in the last quarter. The number of purchases increased by 75%, but the average check amount decreased by 1%. In the Americas, like-for-like sales soared 84%, with an 82% increase in the number of purchases and a 1% increase in the average check amount. International LFL sales jumped 41%, with a 55% increase in purchases and a 9% decrease in the average check amount. In China, like-for-like sales increased 19%, with purchases up 30% and check down 9%. The number of Starbucks coffee shops in the third financial quarter increased by 3% compared to the same period last year and reached a record 33,285 thousand, including 15.348 thousand coffee shops in the United States, and 5.135 thousand in China.
The company improved its forecast, according to which, according to the results of the entire 2021 fiscal year, its revenue will amount to $ 29.1-29.3 billion against the previously expected $ 28.5-29.3 billion.At the same time, the estimate of earnings per share was increased to $ 3.2-3 .25 from the previous forecast of $ 2.9-3. Starbucks updated its forecast that global LFL sales in the current fiscal year will increase by 20-21% (previously expected to rise 18-23%). In China, LFL growth is expected to slow to 18-20% (previous forecast of 27-32%). In the fourth fiscal quarter, the company expects zero LFL growth in China. Global LFL sales are expected to increase by 18-21%, in the Americas by 22-25%. We appreciate the company's initiatives that have a positive effect on financial performance. We are also aware of the risks associated with the delta strain, which could put pressure on revenue in the event of new quarantine restrictions. Nevertheless, the company's long-term development plan should mitigate the risk of a potential slowdown in sales in the short term.
Starbucks is the world's leading coffee retailer, with over 32,000 global locations. The company purchases and roasts coffee beans to make brewed coffees and espresso, complemented by other beverage lines & enhancements in recent years including tea, matcha, nitro and plant-based dairy alternatives. The company is intensifying the focus on the company-operated U.S. and China businesses by closing or selling other business lines. Following the acquisition of the East China JV in early 2018, China is becoming an increasing part of the investor narrative.