Starbucks 1st-qtr profit flat, but traffic climbs

Print
Email
|

by Associated Press

WCNC.com

Posted on November 2, 2012 at 6:04 AM

NEW YORK (AP) -- Starbucks Corp. says more customers went to its cafes in its latest quarter, even in the challenging economy.  

The Seattle-based company says global revenue at cafes open at least a year rose 6 percent in the fiscal fourth quarter, driven by higher customer traffic. The measure is a key gauge because it strips out the impact of newly opened and closed locations.  

For the July-September period, Starbucks earned $359 million, or 46 cents per share, from $358.5 million, or 47 cents per share, a year ago. The year-ago results benefited from a gain related to a real estate sale. Revenue rose 11 percent to $3.36 billion.  

Analysts expected profit of 45 cents per share on revenue of $3.39 billion. 

Shares are up 6.5 percent to $49.66 in after-market trading.
 

Print
Email
|