NEW YORK (AP) — 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 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. Results beat the profit of 39 cents per share on revenue of $3.18 billion, analyst polled by FactSet were expecting.
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.