Starbucks Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Starbucks Corp. (SBUX) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $1.02 billion, or $0.90 per share. This compares with $0.85 billion, or $0.74 per share, in last year's first quarter.

Excluding items, Starbucks Corp. reported adjusted earnings of $1.49 billion or $0.90 per share for the period.

Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.3% to $9.43 billion from $8.71 billion last year.

Starbucks Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $1.02 Bln. vs. $0.85 Bln. last year. -EPS (Q1): $0.90 vs. $0.74 last year. -Analyst Estimate: $0.86 -Revenue (Q1): $9.43 Bln vs. $8.71 Bln last year.