ALSO IN EARNINGS
- More Asset-Buying Depends on Economy: BOE
- Stocks Sputter as Investors Seek Next Catalyst
- T-Mobile USA Wants to Grow Again
- Nissan to Recall 250,000 Cars Globally
- Winners and Losers in Obama's Corporate Tax Plan
- Santorum Takes Heavy Fire in Arizona Republican Debate
- Volcker Rule Threatens Recovery: Finance Ministers
- Next Bank of England Governor: The Race is On
- Peugeot Citroen in Talks With General Motors
MOST SHARED
- RBS Records $1.2 Billion Loss After Greece Charges
- More Asset-Buying Depends on Economy: Bank of England
- Japan's Sumo Belly Flops to $50 Million Debt
- China Faces Japan-Style Stagnation Without Reform: Lawmaker
- Household Debt, Not Politics, Worry for Australia: Economist
- China Internet Firm Qihoo Says Citron Allegations False
- Break-Up, Greece Cause Huge 2011 Dexia Loss
- Japan Manufacturing Mood Dips to Levels After Quake
- Writedowns Push Deutsche Telekom Into Red
- 7 Undervalued IPO Stocks That Could Rebound in 2012
MOST POPULAR
HOT ON FACEBOOK
Starbucks Earnings Beat but Outlook Falls Short
Text Size 
Starbucks reported quarterly earnings and revenue that beat Wall Street's forecasts on Thursday and raised its full-year guidance although its outlook remains below analysts' expectations.
 |
] posted fiscal first-quarter earnings excluding items of 50 cents per share, up from 45 cents a share in the year-earlier period. Net income rose to $382.1 million, or 50 cents per share, from $346.6 million, or 45 cents, a year earlier.
Revenue rose 16 percent to $3.44 billion from $2.95 billion a year ago.
Analysts had expected the company to report earnings excluding items of 49 cents per share on $3.30 billion in revenue.
After the earnings announcement, the company's shares fell 2 percent in extended-hours trading. (Click here to get after-hour quotes for Starbucks.)
Global sales at cafes open at least 13 months jumped 9 percent, helped by an increase in customer visits and spending per transaction. That beat the 7.7 percent gain analysts, on average, expected, according to Thomson Reuters data.
The company raised the bottom end of its projected range for the fiscal year ending in September to a range of $1.78 to $1.82 a share from its earlier estimate of $1.75 to $1.82 a share, but that’s shy of analysts’ expectations of $1.83 a share.
The company recently said it expects high costs for things like coffee, milk and fuel to cut into profits this year.
- Reuters contributed to this article.
- The economy is heating up but the Fed isn’t letting up. How do you play the fixed-income market?
- With its rich oil reserves and rampant corruption, Azerbaijan poses a dilemma for U.S. policy makers.
- Business owners should occasionally consider giving their work for free. Here are several reasons why.
- GOP Governor Chris Christie wants Warren Buffett to stop talking about higher taxes on the super-rich.
- There’s a shortage of hotel rooms in London for the Olympics, so many locals are renting out their opulent private homes.
- Boston Beer will be creating a special commemorative brew, the Samuel Adams Boston 26.2, to mark this year's Boston Marathon.
Data is a real-time snapshot *Data is delayed at least 15 minutes
