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Starbucks tops Wall Street expectations for first quarter

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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.


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