Starbucks Corp. Q3 Profit Drops, Inline With Estimates

(RTTNews) - Starbucks Corp. (SBUX) announced a profit for third quarter that decreased from last year in line with the Street estimates.

The company's bottom line totaled $1.054 billion, or $0.93 per share. This compares with $1.141 billion, or $0.99 per share, in last year's third quarter.

Excluding items, Starbucks Corp. reported adjusted earnings of $0.93 per share for the period.

Analysts on average had expected the company to earn $0.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.6% to $9.113 billion from $9.168 billion last year.

Starbucks Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $1.054 Bln. vs. $1.141 Bln. last year. -EPS (Q3): $0.93 vs. $0.99 last year. -Revenue (Q3): $9.113 Bln vs. $9.168 Bln last year.