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Starbucks fiscal Q2 profit climbs 17.9% YOY

Starbucks Corp. said its normalized net income for the fiscal second quarter ended March 29 amounted to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.

EPS increased 18.9% year over year from 26 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $475.7 million, a gain of 17.9% from $403.4 million in the year-earlier period.

The normalized profit margin climbed to 10.4% from 10.4% in the year-earlier period.

Total revenue increased 17.8% on an annual basis to $4.56 billion from $3.87 billion, and total operating expenses increased 16.7% on an annual basis to $3.84 billion from $3.29 billion.

Reported net income increased 16.9% year over year to $500.4 million, or 33 cents per share, from $428.1 million, or 28 cents per share.