Starbucks Corp 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, 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)