18% profits rise perks up starbucks
Starbucks perked up its net income by 18% in the second quarter, as more customers visited its cafes around the world.
The Seattle-based coffee chain said it earned $309.9 million US dollars, or 40 cents (25p) per share, for the three months ended April 1, compared with a profit of $261.6 million, or 34 cents (21p) per share in the same quarter last year.
Revenue for the latest quarter rose to $3.2 billion, up from $2.79 billion a year ago.
Results beat the profit of 39 cents (24p) per share on revenue of $3.18 billion that analysts polled by FactSet were expecting.
The company said revenue at stores open at least a year increased by 7%, as a result of more customers and higher spending per visit.
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