Starbucks: Fiscal 2Q Earnings Snapshot
Posted April 25, 2019 1:26 pm.
SEATTLE (AP) _ Starbucks Corp. (SBUX) on Thursday reported fiscal second-quarter net income of $663.2 million.
On a per-share basis, the Seattle-based company said it had net income of 53 cents. Earnings, adjusted for non-recurring costs, were 60 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The coffee chain posted revenue of $6.31 billion in the period, which met Street forecasts.
Starbucks expects full-year earnings in the range of $2.75 to $2.79 per share.
Starbucks shares have climbed 20 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 17 per cent. In the final minutes of trading on Thursday, shares hit $77.11, a rise of 34 per cent 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
