Starbucks brews up a strong profit

Starbucks Corp., the world's largest coffee shop chain, Wednesday posted strong quarterly profit growth and raised its full-year earnings target by 4 cents a share.

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Seattle-based Starbucks said earnings in its fiscal second quarter ended March 28 rose 53 percent from the year-earlier period to $79 million, or 19 cents a share, beating the consensus forecast of 17 cents a share analysts polled by Reuters research, a unit of Reuters Group Plc.

The company earned $52.1 million, or 13 cents a share a year earlier.