SEATTLE (AP) — SEATTLE (AP) — Starbucks Corp. (SBUX) on Wednesday reported fiscal third-quarter earnings of $1.05 billion.
On a per-share basis, the Seattle-based company said it had net income of 91 cents. Earnings, adjusted for non-recurring gains, were 85 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The coffee chain posted revenue of $9.32 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $9.44 billion.
Starbucks expects full-year earnings in the range of $2.55 to $2.65 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SBUX at https://www.zacks.com/ap/SBUX
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