Earnings

Starbucks (SBUX) earnings Q2 2023 earnings

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Starbucks beats on earnings as China reverses same-store sales declines

Starbucks on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations, fueled by better-than-expected international sales.

In China, the company’s second-largest market, Starbucks saw its same-store sales increase for the first time since Starbucks’ fiscal third quarter in 2021, as customers returned to its cafes following the rollback of Beijng’s zero-Covid policy.

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However, shares fell 5.6% in extended trading after executives reaffirmed its full fiscal-year outlook.

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

  • Earnings per share: 74 cents adjusted vs. 65 cents…



Source cnbc.com

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