Starbucks (SBUX) shares are up 16 cents, or 0.6%, at $25.55 after the company this afternoon beatfiscal Q2 revenue estimates by $100 million, reporting $2.5 billion, and beat earnings estimates by 4 cents at 29 cents per share.
Q2 revenue rose 8.6%, driven by a 7% same-store sales rise both in the U.S. and abroad. Traffic rose 3% and average purchases rose 5%.
Operating profit margin, moreover, soared, year over year, to 17.7% in the U.S. from 4.2% a year earlier, and to 7.7% internationally from 1.4% a year earlier.
The company raised its adjusted EPS outlook for the year to a range of $1.19 to $1.22, up from a forecast of $1.05 to $1.08 offered back in January. The company also raised its cash flow expectations to “at least $1.5 billion” in cash from operations, from “approximately $1.5 billion,” and to “more than $1 billion” in free cash flow from “approximately $1 billion.”
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