Starbucks earnings beat as China reverses same-store sales declines

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 the country's zero Covid policy.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Revenue: $8.72 billion vs. $8.

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.Net sales rose 14.2% to $8.72 billion. The company's same-store sales climbed 11% in the quarter, beating StreetAccount estimates of 7.1%. Both the U.S. and international markets outperformed expectations.6%.

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