Starbucks Corp. Q1 Profit Increases, but misses estimates

(RTTNews) - Starbucks Corp. (SBUX) released earnings for its first quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $815.9 million, or $0.69 per share. This compares with $622.2 million, or $0.53 per share, in last year's first quarter.

Excluding items, Starbucks Corp. reported adjusted earnings of $0.72 per share for the period.

Analysts on average had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.3% to $8.05 billion from $6.75 billion last year.

Starbucks Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $815.9 Mln. vs. $622.2 Mln. last year. -EPS (Q1): $0.69 vs. $0.53 last year. -Analyst Estimate: $0.80 -Revenue (Q1): $8.05 Bln vs. $6.75 Bln last year.