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Starbucks has reported better-than-expected quarterly earnings as sales rose over the festive period.

The coffee giant’s total net revenue rose to $5.37 billion from $4.8 billion in the three months to December 27.

Starbucks’ revenue was boosted by Christmas holiday sales which rose 9%.Starbucks holiday sales

Chairman Howard Schultz said the strong results showed the “strength and relevance of the Starbucks brand around the world”.

Starbucks said 1-in-6 American adults received a Starbucks Card over the holiday season.

The company said sales at stores that had been open 13 months or more rose by 8%.

Visits to established stores in the China/Asia Pacific region rose by 4%, but missed the 6.1% growth target analysts had predicted.

During a call with investors, Starbucks CFO Scott Maw said the company had locked in the price for more than 90% of its coffee bean needs in 2016.

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Starbucks has announced its global sales increased 18% to $4.9 billion in Q2 2015.

This is Starbucks’ highest ever quarterly revenue.

The company’s boss, Howard Schultz has described the performance: “Among the strongest and most remarkable quarters in our over 23 years as a public company.”

The rise was mostly thanks to it buying out its previous Japanese partner Starbucks Japan and new store openings.Starbucks earnings Q2 2015

The world’s largest coffee chain opened 431 new stores in the period.

Like-for-like sales – which strip out the effect of new store openings – increased by 7%.

Starbucks’ total net profit rose 22% to $626.7 million.

Howard Schultz said the sales increase meant it had served 23 million more customers in the quarter compared to the same period last year. Of those 18 million were from the US.

It said its loyalty program had helped to drive its strong performance. The chain has worked with other companies such as ride-sharing service Lyft and music streaming firm Spotify.

Both companies give their customers a chance to earn Starbucks “starts” which can be used in Starbucks’ shops.

Shares rose more than 3% in after hours trading.

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