Starbucks Breaks Revenue, EPS Record in Q1

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Starbucks (NASDAQ: SBUX  ) had its best-ever quarter in terms of revenue and per-share earnings, the company announced in a news release. The Q1 top line came in at $3.8 billion, an 11% increase over the same period last year, while the record $0.57 EPS equated to a net profit of $432 million, 13% higher year-over-year.

Those results were broadly in line with analyst expectations.

Much of the growth was attributable to the company's outlets across the Americas. Revenues there grew 10% on an annual basis during the quarter to $2.8 billion. Meanwhile, sales in Asia saw robust growth, at 28%.

In its release, Starbucks also reaffirmed its targets for fiscal 2013. The company anticipates opening a net total of 1,300 new stores around the world, growing revenue by around 10% to 13%, showing capital expenditures of around $1.2 billion, and posting an EPS of $2.06-$2.15.

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9/28/2016 4:00 PM
SBUX $53.98 Down -0.21 -0.39%
Starbucks CAPS Rating: ****