Earnings: Starbucks Posts 2Q Profit Gains Of 18 Percent

On Thursday, thanks to the addition of hundreds of new stores, Starbucks (Nasdaq: SBUX) reported that its 2Q07 net earnings increased 18 percent to $151 million from $127 million for the same period in fiscal 2006. Revenue rose 19.6 percent to $2.26 billion.

— Not much was said regarding Starbucks’ plans for music downloads. James Donald, the company’s president and CEO spoke generally about the Music and Entertainment unit during the conference call (according to SeekingAlpha): “Music and Entertainment business recognized many successes, from the sales of A Long Way Gone, which landed on the New York Times Bestseller list and ultimately hit number one, to the sale of the DVDs Happy Feet and Will Smith

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