Friday, January 27, 2012
Starbucks Corp.'s quarterly profit rose after the summer's economic jitters failed to dilute the coffee buying habits of the world's largest coffee chain's customers.
The stock, which closed at $41.40, rose 2.8 percent to $42.56 in after-hours trade.
Fourth-quarter net income hit $358.5 million, or 47 cents per share, including gains of 10 cents per share, the company said Thursday. In the year-earlier quarter, Starbucks made a profit of $278.9 million, or 37 cents per share.
Total revenue rose almost 7 percent to $3.03 billion for the quarter ended Oct 2.