Starbucks Q4 Results Meet Estimate

(RTTNews) - Starbucks Corp. (SBUX) reported net income for the first quarter of $983.1 million or $1.30 per share, compared to $540.7 million or $0.71 per share for the year-ago quarter.

Excluding items, adjusted earnings for the first quarter were $0.80 oer share, compared to $0.69 per share in the prior year quarter.

Total net revenues for the first quarter rose 13.3% to $4.80 billion from $4.24 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.80 per share on revenue of $4.80 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts earnings of $0.63 to $0.64 per share and adjusted earnings of $0.64 to $0.65 per share. Analysts currently expect the company to earn $0.68 per share for the second quarter.

For the fiscal year 2015, the company now forecasts earnings of $3.53 to $3.58 per share and adjusted earnings of $3.09 to $3.13 per share. Previously, the company forecast earnings of $3.42 to $3.54 per share and adjusted earnings of $3.08 to $3.13 per share.

The company reaffirmed its fiscal 2015 revenue growth outlook of 16% to 18%.

Analysts currently expect the company to earn $3.13 per share on revenue growth of 11% for the fiscal year 2015.