WASHINGTON: Coffee chain giant Starbucks beat analysts’ estimates and recorded a rise in profit for its third quarter, the company said on Tuesday, reported German news agency (dpa).
Starbucks’ bottom line came in at US$1.14 billion, or US$0.99 per share. This compares with US$912.9 million, or US$0.79 per share, in last year’s third quarter.
Excluding items, Starbucks reported adjusted earnings of US$1.00 per share for the period.
Analysts on average had expected the company to earn US$0.95 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 12.5 per cent to US$9.17 billion from US$8.15 billion last year. – BERNAMA-dpa
