Starbucks tops Wall Street expectations for first quarter

  • Follow Business

Starbucks Corp. perked up its net income by 18 percent in its fiscal second quarter, as more customers visited its cafes around the world.

The Seattle-based coffee chain says it earned $309.9 million, or 40 cents per share, for the three months that ended April 1. That’s compared with a profit of $261.6 million, or 34 cents per share, in the year-ago quarter.

Revenue for the latest quarter rose to $3.2 billion, up from $2.79 billion a year ago.

The company said revenue at stores open at least a year increased by 7 percent, as a result of more customers and higher spending per visit.

 
loading...
Search Augusta jobs
Top headlines
Augusta homicides up, but no cases recently
Although Augusta homicides are up compared with this time last year, police say a two-month absence of any is proof that some of their crime initiatives are paying off.