SEATTLE (AP) — SEATTLE (AP) — Starbucks Corp. (SBUX) on Tuesday reported fiscal third-quarter profit of $558.3 million.
The Seattle-based company said it had profit of 49 cents per share. Earnings, adjusted for restructuring costs, were 50 cents per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The coffee chain posted revenue of $9.46 billion in the period, which topped Street forecasts. Nine analysts surveyed by Zacks expected $9.3 billion.
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