Starbucks Q3 net profit soaring due to U.S. and China markets
Angie Zhao | | Jul 27, 2013 10:06 PM EDT |
July 25th, Starbucks released its Q3 fiscal results closing June 30th. The report shows that the company earns 55 cents per share while its net revenue rose 13% to $3.74 billion. The operating income of Starbucks surge 25% to $615 million. And its operating margins expanded 150 basis points. Starbucks Q3 earnings exceeded investors' expectations. Founder and CEO Howard Schultz said it was the company's best third quarter results ever.
Like Us on Facebook
Troy Alstead, chief financial officer of Starbucks, said: "Our powerful Q3 results reflect the outstanding success of our growth platforms both in the U.S. and globally, with all regions delivering an acceleration in comparable store sales and operating margin versus Q2."
It is reported that because Starbucks expands its trade in America, China and the whole Asia, the sales of global Starbucks stores rose up to 8% in Q3. In addition, the sales of American Starbucks stores rose 9%. The total revenue in U.S. amounted up to $ 2.78 billion. The company claims its sales leverage as a result from lower coffee costs.
The sales in China and Asia-Pacific unit increase strongly as well. The same store sales rose 9% and revenue surge 29% to $233.7 million. However, in Europe, Middle East and Africa, Starbuck coffee was not as popular as that in U.S. and China with same store sales up 2%.
Starbucks expects same store sales to expand in the mid-single digit range, with revenue growing 10% to 13% in fiscal 2014. Operating margin can expand from 150 to 200 basis points, while earnings per share should grow between 18% and 22%.
Now, investors have a lot of faith in Starbucks Corporation. In the stock market after Starbucks released its reports, there was a strong upward trend in Starbucks Corporation shares today.
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?