Starbucks Corp. Q3 Profit Decreases, Misses Estimates

(RTTNews) - Starbucks Corp. (SBUX) announced earnings for third quarter that Decreased from last year and missed the Street estimates.

The company's bottom line came in at $558.3 million, or $0.49 per share. This compares with $1.054 billion, or $0.93 per share, last year.

Excluding items, Starbucks Corp. reported adjusted earnings of $0.50 per share for the period.

Analysts on average had expected the company to earn $0.65 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.8% to $9.456 billion from $9.113 billion last year.

Starbucks Corp. earnings at a glance (GAAP) :

-Earnings: $558.3 Mln. vs. $1.054 Bln. last year. -EPS: $0.49 vs. $0.93 last year. -Revenue: $9.456 Bln vs. $9.113 Bln last year.