Starbucks' revenues fell, but it posted a $151.5 million profit for the quarter ended June 28, better than analysts expected and far better than its $6.7 million loss during the dark days of last summer.

Its shares climbed $1.20, or 8 percent, to $15.90, following the earnings announcement after the stock market closed. During regular trading, shares fell 23 cents to $14.69

The coffee company spent $51.6 million during the quarter on restructuring charges mostly because it is exiting leases and incurring other costs as it closes stores.

Of the 900-some stores it plans to close worldwide, 676 have been shut in the U.S., 61 in Australia and 28 in other international markets.

Starbucks is closing stores faster than it's opening them. It now expects to end its fiscal year, on September 27, with 30 fewer stores than it began the year. In April, it had expected to have a net gain of 20 stores by year-end.

A 7 percent drop in quarterly revenue, to $2.4 billion, means the company has not emerged from a financial quagmire that began in 2007 and worsened as the economy slowed.

Last summer, it posted its first quarterly loss as a public company and its shares sank to a 52-week low as investors digested news that it would close 600 U.S. stores. Since then, another 200 stores were slated for closure. All 800 are scheduled to close by Sept. 27.

Starbucks' same-store sales -- a popular measure of sustainable performance -- were down 5 percent, an improvement from the previous two quarters.

In the mid 2000s, the company regularly posted double-digit growth in same-store sales. They have not been positive since the first quarter of 2008.