October 30, 2013 / 8:32 PM / 4 years ago

Starbucks profit rises 34 percent

Oct 30 (Reuters) - Starbucks Corp reported a 34 percent jump in quarterly profit on Wednesday after a rise in visits caused a surprisingly big rise in cafe sales.

Shares of the Seattle-based company, which have been rising steadily over the last 12 months, were essentially flat at $80.83 in after-market trading.

The world’s biggest coffee chain posted net earnings of $481.1 million, or 63 cents per share, for the fiscal fourth quarter ended on Sept. 29. That compares with net profit of $359 million, or 46 cents per share, a year earlier.

Global sales at Starbucks cafes open at least 13 months jumped 7 percent, versus analysts’ average estimate for a 6.7 percent rise, according to Consensus Metrix. That figure included a stronger-than-expected 8 percent rise for the U.S.-dominated Americas region that contributes the lion’s share of Starbucks revenue.

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