Starbucks Q1 Profit Tops View; Lifts FY14 EPS Outlook - Quick Facts

(RTTNews) - Starbucks Corp. (SBUX) reported net income attributable to the company for the first quarter of $540.7 million or $0.71 per share, compared to $432.2 million or $0.57 per share in the year-ago quarter.

Total net revenues for the latest first quarter increased 11.8% to $4.24 billion from $3.79 billion a year ago.

On average, analysts polled by Thomson Reuters expected the company to earn $0.69 per share on revenue of $4.29 billion for the first quarter.

Global same-store sales grew 5% driven by 4% growth in traffic.

Looking forward, the company forecast second quarter earnings per share in the range of $0.54 to $0.55. Analysts currently expect earnings o $0.56 per share.

For the fiscal year 2014, the company now expects earnings per share in the range of $2.59 to $2.67, up from its previous range of $2.55 to $2.65 per share.

The company continues to expect revenue growth of about 10% or greater.

Analysts currently expect the company to earn $2.65 per share for the fiscal year 2014.