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Coffee Giant Exceeds Wall Street’s Revenue Estimates, Global Comps Jump 7%

July 17, 2023
in Trade Tube
Reading Time: 1 min read
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Starbucks (SBUX) reported fiscal second quarter earnings after the bell on Thursday. Earnings per share came in at 33 cents, matching Wall Street’s estimates. As for the top line, Starbucks reported sales of $4.6 billion, slightly ahead of the $4.5 billion analysts had in mind. Among the highlights during the quarter, global comparable store sales rose 7%. Plus, Starbucks added 210 new stores, pushing its total stores across the globe to just over 22,000. As for guidance, the company expects revenue growth between 16-18% for 2015 and capital expenditures of $1.4 billion.

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