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November 01, 2012

Starbucks' fourth-quarter profit beats analysts' expectations, shares rise

ImagesStarbucks reported a fourth-quarter profit of $359 million -- just a tad more than what it earned in the same quarter of 2011. The coffee chain also said it opened 415 new stores in the quarter; in the fourth-quarter of 2011, it closed 15 stores.

Starbucks shares are up on the news -- mostly because the company beat analysts' profit expectations by a penny a share, and expects top estimates for the full year.

Starbucks also lifted its quarterly dividend 24%, to 21 cents.

* Starbucks profit steady, store count rises
* Starbucks 4th quarter profit climbs, shares gain
* Read Starbucks' press release on 4Q results

Posted at 03:04 PM |

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