Starbucks net profit of 347 million U.S. dollars in the first quarter increased 44% year on year
YORK January 27 morning news, Starbucks (SBUX) today announced first quarter fiscal 2011 earnings. The report shows that Starbucks first quarter net profit of 3.47 billion U.S. dollars, up 44% over last year, exceeding Wall Street analysts had expected, mainly due to the Starbucks coffee shop's sales continue to grow.
report, Starbucks first quarter net profit of 3.47 billion U.S. dollars, 45 cents per share, this performance better than last year. The first quarter of fiscal 2010, Starbucks net profit of 2.42 billion U.S. dollars, 32 cents per share. Starbucks first quarter sales of 30 billion U.S. dollars, up 8% over last year. Analysts on average expected earnings per share for the first quarter of Starbucks, 39 cents on revenue of 2.92 billion. Starbucks first quarter same-store sales growth of 7%, 5 consecutive quarters of growth.
Starbucks raised its fiscal 2011 earnings per share range of low-end, but warned that commodity costs will result in loss of the company's earnings per share of 20 cents, 8 cents higher than previously expected to 10 cents. (Jin-liang)
