Starbucks Corp. said its normalized net income for the fiscal first quarter ended Dec. 28, 2014, was 38 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.
EPS increased 17.0% year over year from 33 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $578.0 million, a gain of 15.8% from $499.1 million in the year-earlier period.
The normalized profit margin increased to 11.9% from 11.8% in the year-earlier period.
Total revenue increased 13.3% on an annual basis to $4.80 billion from $4.24 billion, and total operating expenses increased 12.4% year over year to $3.93 billion from $3.50 billion.
Reported net income rose 81.2% from the prior-year period to $985.9 million, or 65 cents per share, from $544.0 million, or 36 cents per share.
