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Starbucks posts profit beat, sales jump

New York, January 27, 2012

Starbucks Corp's reported a quarterly profit that topped Wall Street's view after global economic worries failed to weaken demand for drinks and other products from the world's biggest coffee chain.

Global sales at cafes open at least 13 months jumped 9 per cent. That beat the 7.7 per cent gain analysts, on average, expected, according to Thomson Reuters data.

The Seattle-based company reported fiscal first-quarter profit of 50 cents per share, a penny better than analysts' average forecast, according to Thomson Reuters I/B/E/S. – Reuters




Tags: Starbucks | Sales | profit | Wall Street | Drinks |

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