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Starbucks Corp. (SBUX) Is Up Slightly After Q1 Report

Starbucks Corp. (SBUX) reported first quarter net income of $0.57 per share after the bell Thursday, up from $0.50 per share in the prior year. The consensus estimate was for EPS of $0.57. Revenues grew 11 percent to $3.80 billion from $3.44 billion last year. Analysts estimated revenues of $3.84 billion for the quarter.

Starbucks continues to expect full year 2013 earnings of $2.06 to $2.15 per share on revenue growth of 10 to 13 percent. The consensus estimate is for EPS of $2.16. The stock is now up 0.20 on 1.1 million shares.

Starbucks gapped up slightly Thursday, but was range-bound throughout the session. The stock closed higher by 0.11 at $54.57.

by RTTNews Staff Writer

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