Starbucks posts 13% higher profit

[admin]

Starbucks posts 13% higher profit
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- Starbucks Corp. reported late Thursday its fiscal first-quarter profit rose to $432 million, or 57 cents a share, from $382 million, or 50 cents a share, a year ago. Revenue for the quarter ended Dec. 30 rose 11% to $3.8 billion from $3.44 billion. Analysts surveyed by FactSet had expected the Seattle-based coffee giant to earn 57 cents a share on $3.85 billion in revenue. Starbucks stood by its fiscal 2013 revenue growth target of 10% to 13%. Starbucks shares fell 1.1% to $54.00 in after-hours trade.