Restaurant and coffee powerhouse Starbucks Corp. reported second-quarter financial results after market close Tuesday. Here are the key highlights for investors.
What Happened
Starbucks reported second-quarter revenue of $7.64 billion, which was up 15 percent year-over-year. The quarterly revenue was a second-quarter record for the company and came in ahead of a consensus estimate of $7.6 billion, according to data from Benzinga Pro.
The company reported second-quarter adjusted earnings per share of 59 cents, which was in line with estimates.
Same-store sales were up 7 percent globally, with a 12 percent increase in North America and a decline of 8 percent in international markets. Comparable same-store sales fell 23 percent in China due to a drop in overall transactions from increased COVID-19 related lockdowns.
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