Starbucks profit rises as new food, drinks help drive sales

Starbucks reported a higher quarterly profit Thursday as new food and drinks helped boost sales in the U.S.

The Seattle-based coffee chain raised its guidance for the year, citing the stronger performance.

Globally, Starbucks said sales at established locations rose 6 percent for the quarter. That included a 7 percent increase in the flagship U.S. market, as well as a 7 percent increase in the Asia region. The unit encompassing Europe, the Middle East and Africa saw a 3 percent increase.

For the quarter, Starbucks Corp. earned $512.6 million, or 67 cents per share, a penny more than analysts expected.

A year ago, it earned $417.8 million, or 55 cents per share.

Revenue rose to $4.15 billion, above the $4.14 billion Wall Street expected, according to FactSet.