Starbucks Corp. Q3 Profit Increases, beats estimates

(RTTNews) - Starbucks Corp. (SBUX) released a profit for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.14 billion, or $0.99 per share. This compares with $912.9 million, or $0.79 per share, in last year's third quarter.

Excluding items, Starbucks Corp. reported adjusted earnings of $1.00 per share for the period.

Analysts on average had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.5% to $9.17 billion from $8.15 billion last year.

Starbucks Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $1.14 Bln. vs. $912.9 Mln. last year. -EPS (Q3): $0.99 vs. $0.79 last year. -Analyst Estimate: $0.95 -Revenue (Q3): $9.17 Bln vs. $8.15 Bln last year.