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Starbucks Tops Profit Forecast, Meets Sales Expectations

Investing.com

Investing.com - Starbucks (NASDAQ:SBUX) reported fiscal second-quarter earnings that beat analysts' expectations on Thursday, while its overall and comparable sales were in line with forecasts.

Starbucks shares gained 1.8% in after-hours trade following the report.

The coffee chain reported earningsof 60 cents a share, excluding items, on revenue of $6.31 billion. Analysts polled by Investing.com forecast 56 cents in earnings on revenue of $6.32 billion.

Global same-store sales rose 3%, right in line with expectations.

For the full year, Starbucks now predicts a profit of $2.75 to $2.79 per share, excluding items. That’s above the consensus estimate of $2.73 per share from S&P Capital IQ.

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Same-store sales are forecast to be up 3% to 4%.

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