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Starbucks second-quarter profit rises

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(Globalpost/GlobalPost)

(Reuters) - Starbucks Corp <SBUX.O> reported higher quarterly profit on Thursday, helped by strength in the United States, its top market, despite an industry-wide spending downturn in February due to a U.S. payroll tax increase that lowered take-home pay.

The world's biggest coffee chain reported net earnings of $390.4 million (252.9 million pounds), or 51 cents per share, for the fiscal second quarter that ended on March 31. That compares with $309.9 million, or 40 cents per share, a year earlier.

Revenue rose 11 percent to $3.56 billion.

(Reporting by Martinne Geller in New York and Lisa Baertlein in Los Angeles. Editing by Andre Grenon)

http://www.globalpost.com/dispatch/news/thomson-reuters/130425/starbucks-raises-outlook-shares-fall