Starbucks Corp. (SBUX) reported first quarter adjusted EPS of $0.80 after the bell Thursday, compared to $0.69 in the previous year. Analysts had expected EPS of $0.80. Total net revenues rose 13.3% to $4.80 billion from $4.24 billion last year. The consensus estimate was for revenues of $4.80 billion.
The company expects to report second quarter adjusted EPS of $0.64 to $0.65 and between $3.09 and $3.13 for the full year. The consensus estimates are for EPS of $0.68 and $3.13.
Starbucks gapped open sharply higher Friday and rose during the first 45 minutes of trade, before settling to a range. The stock finished with a gain of 5.48 at $88.22 on the highest volume of the year. Starbucks surged past the upper end of a 2-month range and set a new high for the year.
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