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Starbucks Corp. (SBUX) Has Set An 8-Month High After Matching Q1 Expectations

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Starbucks Corp. (SBUX: Quote) 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 gapped up sharply Friday and is currently higher by 2.42 at $56.99. The stock has broken out of a 3-week trading range and has set an 8 1/2 month high.

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by RTT Staff Writer

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