Starbucks profit jumped 13 percent on a spike in US coffee consumption during the winter holiday season.
The world’s biggest coffee chain reported net earnings of $432.2 million, or 57 cents per share, for the first quarter that ended Dec. 30, matching the average analyst estimate.
That was up from $382.1 million, or 50 cents per share, a year earlier.
Overall revenue jumped almost 11 percent, to $3.8 billion, during the quarter, which is Starbucks’ biggest for sales.
Global sales at stores open at least 13 months were up 6 percent — topping the 5.5 percent rise analysts polled by Consensus Metrix had expected. Those sales were helped by a 4 percent increase in traffic and a 2 percent increase in average spending per visit.
Shares rose 3 percent, to $56.20, in after-hours trading.
Brewing profits at S’bux
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