Starbucks Profit Tops Estimates as U.S. Sales Improve
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Starbucks Corp., the world’s largest coffee-shop chain, advanced the most in almost two months after posting earnings that topped analysts’ projections as pumpkin-spice lattes and other seasonal drinks helped boost U.S. sales.
The shares rose 2.2 percent to $74.98 at the close in New York, the biggest gain since Nov. 21, after the Seattle-based company yesterday reported first-quarter earnings per share of 71 cents, exceeding the 69-cent average of analysts’ estimates. Net income jumped 25 percent to $540.7 million.