U.S. demand, surprise China rebound lift Starbucks earnings

📆 03/05/2023 01:41:00
📰 MarketWatch

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Starbucks reported quarterly results that beat expectations. $SBUX reported net income of $908.3 million, or 79 cents a share, compared with $674.5 million, or 58 cents a share, in the same quarter last year:

Starbucks Corp. on Tuesday reported second-quarter results that beat expectations, helped by a surprise same-store sales gain in China, continued solid demand in the U.S. and higher prices.

The coffee chain reported fiscal second-quarter net income of $908.3 million, or 79 cents a share, compared with $674.5 million, or 58 cents a share, in the same quarter last year. Adjusted for restructuring costs and the impact of income taxes, the chain earned 74 cents a share, compared with 59 cents in the prior-year quarter.

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