Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China <\/p>\n\n\n\n
Here\u2019s what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:<\/p>\n\n\n\n
Here\u2019s what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:<\/p>\n\n\n\n
Earnings per share: 84 cents adjusted vs. 75 cents expected
Revenue: $8.15 billion vs. $8.11 billion expected
The coffee giant reported fiscal third-quarter net income attributable to Starbucks of $912.9 million, or 79 cents per share, down from $1.15 billion, or 97 cents per share, a year earlier. The company said that inflation and higher wages for baristas weighed on its margins this quarter.<\/p>\n\n\n\n
Net sales rose 9% to $8.15 billion. The company reported global same-store sales growth of 3%, fueled by a stronger performance in the United States.<\/p>\n\n\n\n
In Starbucks\u2019 home market, same-store sales increased 9%, driven largely by higher average order totals, as well as a 1% uptick in traffic. Morning sales are returning, the company said, making up roughly half of revenue as consumers resume pre-pandemic routines.<\/p>\n","protected":false},"excerpt":{"rendered":"
Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China Here\u2019s what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Here\u2019s what the company reported for the quarter ended July 3 compared with what Wall Street …<\/p>\n","protected":false},"author":9,"featured_media":69456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6832,7113,8603,9541,8679],"class_list":["post-69498","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-china","tag-earnings","tag-lockdowns","tag-revenues","tag-starbucks"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=69498"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69498\/revisions"}],"predecessor-version":[{"id":69499,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/69498\/revisions\/69499"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/69456"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=69498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=69498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=69498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}