This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Starbucks Beats, Shares Fall on Outlook

(Starbucks earnings report updated with revised earnings guidance, as per a corrected earnings press release from the company .)

SEATTLE ( TheStreet) -- Starbucks (SBUX - Get Report) posted better-than-expected quarterly profits and revenue late Wednesday but shares fell after-hours on the company's disappointing outlook.

Starbucks booked 2011 fiscal first quarter profits of $346.6 million, or 45 cents per share, on revenue of $3 billion, up from year-earlier earnings of $241.5 million, or 33 cents per share, on revenue of $2.72 billion.

Analysts' consensus call was for Starbucks to book first-quarter profits of $294.5 million, or 39 cents per share, on revenue of $2.93 billion.

Starbucks shares were 0.9% higher on Thursday to trade around $33.37. The stock surged 39.3% in 2010.

Investors were unimpressed with Starbucks' revised 2011 earning guidance.

Starbucks reiterated its plans to open 500 net new stores in fiscal 2011, 400 of which will be outside the U.S. and the majority of which are expected to be licensed stores. The company targeted mid- to high-single digit revenue growth driven by low- to mid-single digit comps growth.

It also reaffirmed certain of its 2011 guidance "despite dramatically higher coffee costs," but revised its earnings-per-share outlook.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
CAKE $48.65 0.00%
MCD $94.88 0.00%
SBUX $47.62 0.00%
YUM $79.75 0.00%
AAPL $124.75 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs