Starbucks earnings beat as China reverses same-store sales declines

Business News

In this article

Starbucks Coffee logo is seen on cups in the cafe in Krakow, Poland on February 16, 2023. 
Nurphoto | Nurphoto | Getty Images

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:

You Might Like
  • 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.

Articles You May Like

‘A developing mass casualty event’: Bridge collapses after being hit by ship
Immaculée Ilibagiza, a light at the bottom of the bottomless human depravity pit
Elon Musk says US will be ‘toast’ without ‘red wave’
The Associated Press Rushed to Politicize Historic Figure Francis Scott Key After Bridge Collapse
What Our Baby Bust Says About Modern America

Leave a Reply

Your email address will not be published. Required fields are marked *