Starbucks Corp. (SBUX) announced a profit for its first quarter that increased from the same period last year but missed the Street estimates.
The company's earnings totaled $855.2 million, or $0.74 per share. This compares with $815.9 million, or $0.69 per share, in last year's first quarter.
Excluding items, Starbucks Corp. reported adjusted earnings of $0.75 per share for the period.
Analysts on average had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 8.2% to $8.71 billion from $8.05 billion last year.
Starbucks Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $855.2 Mln. vs. $815.9 Mln. last year.
-EPS (Q1): $0.74 vs. $0.69 last year.
-Analyst Estimate: $0.77
-Revenue (Q1): $8.71 Bln vs. $8.05 Bln last year.
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