Starbucks 4Q profit up 29 percent
Thursday, November 3, 2011
SEATTLE (AP) -- Starbucks Corp.'s fiscal fourth-quarter profit jumped nearly 29 percent on stronger sales of its coffee in its cafes and at other retailers.
The Seattle-based coffee company reported Thursday that it earned $358.5 million, or 47 cents per share. That's up from $278.9 million, or 37 cents per share, last year. After adjusting for one-time items, the company earned 37 cents versus 32 cents last year.
Revenue rose 7 percent to $3 billion.
Analysts anticipated the company would earn 36 cents per share on revenue of $2.95 billion.
Starbucks expects to earn $1.75 to $1.82 for the coming fiscal year on an adjusted basis. Analysts expect $1.82 per share.