Java giant Starbucks Corp. posted record results for its fiscal first quarter late Thursday, edging analysts' estimates by two cents a share.

The Seattle-based specialty coffee chain posted a profit of $80 million, or 20 cents a share, up 17 per cent from the $68.4 million, or 17 cents a share, reported a year ago (all figures in U.S. dollars).

Sales surged 25 per cent, to more than $1 billion from $805 billion.

The consensus call of analysts polled by Thomson First Call was for 18 cents a share on revenue of $968.6 million.

Driving the growth was the opening of 300 new locations, as well as stronger existing store sales. Same store sales rose nine per cent from the previous first quarter.

"This period marked the first $1-billion revenue quarter in the company's history," CEO Orin Smith said in a statement. "Based on our strong first-quarter results, we are excited about the prospects for the remainder of fiscal 2003 and beyond."

For the fiscal year, Starbucks now expects profits of 67 to 68 cents a share, up from the previous estimate of 65 to 66 cents.