Starbucks: Fiscal 1Q Earnings Snapshot
SEATTLE (AP) _ Starbucks Corp. (SBUX) on Tuesday reported fiscal first-quarter earnings of $885.7 million.
On a per-share basis, the Seattle-based company said it had net income of 74 cents. Earnings, adjusted for non-recurring costs, came to 79 cents per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The coffee chain posted revenue of $7.1 billion in the period, which met Street forecasts.
Starbucks shares have climbed nearly 1% since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 1%. In the final minutes of trading on Tuesday, shares hit $88.60, a climb of 32% in the last 12 months.