Starbucks earnings beat as China reverses same-store sales declines

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Starbucks Coffee logo is seen on cups in the cafe in Krakow, Poland on February 16, 2023. 
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Starbucks on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations, fueled by better-than-expected international sales.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

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  • Earnings per share: 74 cents adjusted vs. 65 cents expected
  • Revenue: $8.72 billion vs. $8.4 billion expected

The coffee giant reported fiscal second-quarter net income of $908.3 million, or 79 cents per share, up from $674.5 million, or 58 cents per share, a year earlier.

Excluding items, Starbucks earned 74 cents per share.

Net sales rose 14.2% to $8.72 billion.

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