Starbucks (SBUX) Q4 2022 earnings beat estimates


Starbucks earnings beat on top and bottom lines

Starbucks on Thursday reported quarterly earnings and revenue that topped analysts’ estimates, fueled by U.S. customers spending more on iced coffee drinks and Pumpkin Spice Lattes.

The Seattle-based coffee company also said U.S. traffic improved in the quarter, and has nearly bounced back to 2019 levels.

“Despite elevated pricing actions taken throughout the year, daily store traffic in the U.S. reached approximately 95% pre-pandemic levels in September fueled by the wildly successful fall promotion,” Chief Financial Officer Rachel Ruggeri said on the company’s quarterly conference call.

Shares rose 2.7% in after-hours trading.

Here’s what the company reported for the quarter ended Oct. 2…

Source cnbc.com

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