Starbucks Corp. (SBUX) Thursday reported second-quarter net income of $390 million or $0.51 per share, compared to $310 million or $0.40 per share last year.
Results for the quarter included a $0.03 per share gain on the sale of the company's equity in the joint venture that operates Starbucks stores in Mexico.
Revenues for the quarter were up 11% at $3.56 billion, compared to $3.2 billion a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.48 per share on revenues of $3.59 billion for the quarter. Analysts' estimates typically exclude special items.
The company reported comparable store sales growth of 7% in the US and 6% globally.
Operating margin expanded 180 basis points to 15.3 percent in the quarter.
Looking ahead to fiscal year 2013, the company now expects earnings of $2.12 to $2.18 per share, up from prior guidance of $2.06 to $2.15 per share. It continues to expect revenue growth of 10% - 13%.
Analysts currently expect earnings of $2.16 per share on revenues of $14.89 billion for the year.
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