Starbucks: Fiscal 3Q Earnings Snapshot
Posted Jul 25, 2019 04:30:02 PM.
This article is more than 5 years old.
SEATTLE (AP) _ Starbucks Corp. (SBUX) on Thursday reported fiscal third-quarter profit of $1.37 billion.
On a per-share basis, the Seattle-based company said it had net income of $1.12. Earnings, adjusted for non-recurring gains, came to 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The coffee chain posted revenue of $6.82 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $6.68 billion.
Starbucks expects full-year earnings in the range of $2.80 to $2.82 per share.
Starbucks shares have increased 41% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. In the final minutes of trading on Thursday, shares hit $90.98, a rise of 76% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBUX at https://www.zacks.com/ap/SBUX
The Associated Press
