Starbucks says its growing popularity with coffee drinkers around the world helped boost its first-quarter net income nearly 44 per cent.

The Seattle-based coffee giant reported after the market closed overnight that it earned $346.6 million, or 45 cents per share, for the quarter that ended January 2.

That's up from $241.5 million, or 32 cents per share, earned in the same quarter last year.

Revenue rose nearly 8 percent to $3 billion.

The results beat analysts' average estimates of 39 cents per share on revenue of $2.93 billion, according to FactSet.

Starbucks says more customers came into its stores and spent more during the quarter as it improved its product lineup and in-store experience. The company also said its improved operating profits and margins offset the impact of unusually high coffee costs.

Sales at stores open at least one year, a key indicator for the industry because it excludes cafes that recently opened or closed, rose 7 percent for the quarter. The increase was driven by a 5 percent boost in traffic and 2 percent higher average transaction. The figure rose 8 percent in the U.S and 5 percent abroad.

Starbucks reaffirmed the high end of its full-year guidance at $1.47 per share and raised the low end of the range to $1.44 to from the $1.41 estimate it gave in November.

Analysts were expecting the company to raise its full-year guidance, however; their average estimate was $1.49 per share.