Starbucks (SBUX) reports Q2 earnings, raises forecast

NASDAQ: SBUX | Starbucks Corporation News, Ratings, and Charts

SBUX – The company beat earnings expectations and raised its full-year profit forecast.

Starbucks Inc. shares SBUX, +0.25% were up 2.6% in after-hours trading Thursday after the company beat earnings expectations and raised its full-year profit forecast. The company reported fiscal second-quarter net income of $663.2 million, or 53 cents a share, up from $660.1 million, or 47 cents a share, a year earlier. Adjusted earnings per share rose to 60 cents from 53 cents in the year-earlier period. Analysts surveyed by FactSet had been projecting 56 cents in adjusted EPS. Starbucks’ revenue rose to $6.31 billion from $6.03 billion a year earlier, whereas the FactSet consensus was for $6.32 billion. The company said that global same-store sales grew 3%. Starbucks now expects adjusted EPS of $2.75 to $2.79 for the full fiscal year, up from a prior forecast of $2.68 to $2.73. Shares have gained 20% so far this year, as the S&P 500 SPX, -0.04% has gained 17%.


Starbucks Corp. shares rose $0.07 (+0.09%) in after-hours trading Thursday. Year-to-date, SBUX has gained 20.36%, versus a 17.09% rise in the benchmark S&P 500 index during the same period.

SBUX currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #2 of 45 stocks in the Restaurants category.


This article is brought to you courtesy of MarketWatch.

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