Starbucks Breaks Revenue, EPS Record in Q1
Starbucks had its best-ever quarter in terms of revenue and per-share earnings, the company announced in a news release. The Q1 top line came in at $3.8 billion, an 11% increase over the same period last year, while the record $0.57 EPS equated to a net profit of $432 million, 13% higher year-over-year.
Those results were broadly in line with analyst expectations.
Much of the growth was attributable to the company's outlets across the Americas. Revenues there grew 10% on an annual basis during the quarter to $2.8 billion. Meanwhile, sales in Asia saw robust growth, at 28%.
In its release, Starbucks also reaffirmed its targets for fiscal 2013. The company anticipates opening a net total of 1,300 new stores around the world, growing revenue by around 10% to 13%, showing capital expenditures of around $1.2 billion, and posting an EPS of $2.06-$2.15.
The article Starbucks Breaks Revenue, EPS Record in Q1 originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Starbucks. The Motley Fool recommends and owns shares of Starbucks. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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