Reuters: Global Markets: Starbucks second-quarter profit rises

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Starbucks second-quarter profit rises Apr 25th 2013, 20:46 Tweet Share this Email Print Related News Ford quarterly profit beats, but growth push adds costs Wed, Apr 24 2013 McDonald's sees no restaurant rebound in April Fri, Apr 19 2013 Chipotle profit jumps, immigration probe expanded Thu, Apr 18 2013 Morgan Stanley posts $958 million profit as wealth management grows Thu, Apr 18 2013 EBay second-quarter forecast disappoints, shares slip Wed, Apr 17 2013 Analysis & Opinion Starbucks in India: if coffee cools, please reheat People say we should've priced our coffee higher – Tata Starbucks CEO Related Topics Hot Stocks » Asian Markets » Packets of Starbucks coffee are seen in a supermarket in Santa Monica, California, January 27, 2011. Credit: Reuters/Lucy Nicholson Thu Apr 25, 2013 4:46pm EDT (Reuters) - Starbucks Corp (SBUX.O) reported higher quarterly profit on Thursday that matched Wall Street estimates and it raised its full-year earnings forecast. The world's biggest coffee chain cited strength in the United States, its top market, despite an industry-wide spending downturn in February due to a U.S. payroll tax increase that lowered take-home pay. Still, Starbucks shares fell 2.5 percent in afterhours trading. Starbucks said net earnings rose to $390.4 million, or 51 cents per share, in the fiscal second quarter that ended on March 31 from $309.9 million, or 40 cents per share, a year earlier. Excluding a 3 cent-per-share gain on the sale of its stake in a Mexican venture, earnings were 48 cents per share, matching analysts' average estimate, according to Thomson Reuters I/B/E/S. Revenue rose 11 percent to $3.56 billion. The company said it expects earnings of $2.12 to $2.18 per share this year, up from a prior target range of $2.06 to $2.15. (Reporting by Martinne Geller in New York and Lisa Baertlein in Los Angeles. Editing by Andre Grenon) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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