Late Thursday , Starbucks reported it beat fiscal third-quarter profit and revenue expectations on strong sales growth and increased store traffic. Starbucks' quarterly profit jumped 34.2% to $279.1 million, or 36 cents a share, while revenue increased 12.3% to $2.93 billion. A day earlier, Green Mountain also beat profit and revenue expectations thanks to the surging popularity of its Keurig one-cup brewing machine and accompanying K-Cups . Green Mountain more than doubled its earnings year over year to $56.3 million, or 37 cents a share, while revenue also more than doubled to $717 million. K-Cup portion pack sales surged 136% to $485 million, while Keurig brewer and accessory sales soared 66% to $105 million. Green Mountain said it sold 1.1 million Keurig machines in its recent third quarter. The company has partnerships with both Dunkin' and Starbucks to sell K-Cups under their brands.
On Wednesday, shares of Dunkin' Donuts owner Dunkin' Brands hit the Nasdaq fully caffeinated, surging more than 52% in their first day on the market. Dunkin's IPO was priced at $19 late Tuesday before it began trading Wednesday morning. The company, which was bought by a private-equity consortium including Bain Capital, Carlyle Group and Thomas H. Lee Partners in 2006 for $2.4 billion, sold 22.25 million shares in its market debut to raise around $423 million. Other stocks in the coffee-and-doughnut space were mixed on Friday. Krispy Kreme Donuts ( KKD) fell 0.9% to $8.16, Peet's Coffee & Tea ( PEET) lost 1.3% to $58.16, Canada's Tim Hortons ( THI) shed 0.8% to $47.60 and McDonald's ( MCD) was lower by 0.6% to $86.24.
-- Written by Miriam Marcus Reimer in New York. >To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket.
>>See our new stock quote page.