Starbucks: mixed results in Q1
(CercleFinance.com) - Published after Wall Street closed yesterday, Starbucks' Q1 accounts included net income 2.
2 billion dollars, or 1.57 dollar per share, compared with 751.8 million dollars, or 51 cents per share.
The result was "boosted" by the tax reform. Excluding extraordinary items, EPS of the US coffee chain therefore reached 58 cents, i.e. 1 cent above the consensus.
Meanwhile, revenues grew by 6% from the first 3 months of the previous fiscal year to 6.1 billion dollars. However, like-for-like revenues only increased by 2%, against a 3% increase expected by the consensus.
The group remains focused on its growth in China and has announced the opening of 1,300 additional outlets. Its revenues in China have increased by 7% at a constant scope, and Starbucks wants to triple its network there, which already has 3,000 outlets, within the next 10 years, Aurel BGC said.
Finally, regarding its outlook, Starbucks now expects 2018 EPS of between 2.48 dollars and 2.53 dollars, against a previous range of 2.3 dollars to 2.33 dollars. Again, this increase has resulted from the US tax reform.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2 billion dollars, or 1.57 dollar per share, compared with 751.8 million dollars, or 51 cents per share.
The result was "boosted" by the tax reform. Excluding extraordinary items, EPS of the US coffee chain therefore reached 58 cents, i.e. 1 cent above the consensus.
Meanwhile, revenues grew by 6% from the first 3 months of the previous fiscal year to 6.1 billion dollars. However, like-for-like revenues only increased by 2%, against a 3% increase expected by the consensus.
The group remains focused on its growth in China and has announced the opening of 1,300 additional outlets. Its revenues in China have increased by 7% at a constant scope, and Starbucks wants to triple its network there, which already has 3,000 outlets, within the next 10 years, Aurel BGC said.
Finally, regarding its outlook, Starbucks now expects 2018 EPS of between 2.48 dollars and 2.53 dollars, against a previous range of 2.3 dollars to 2.33 dollars. Again, this increase has resulted from the US tax reform.
Copyright (c) 2018 CercleFinance.com. All rights reserved.