Kevin Johnson, President and CEO of Starbucks, speaks during a press conference in Shanghai on August 2, 2018.
AFP | Getty Images
Starbucks A better-than-expected quarterly result was reported on Tuesday and the forecast for the full year for earnings and sales was raised.
The company reported, relative to Wall Street expectations based on an analyst survey by Refinitiv:
- Earnings per share: 62 cents adjusted compared to 53 cents expected
- Revenue: $ 6.7 billion versus $ 6.8 billion expected
Without articles, the coffee chain earned 62 cents per share, surpassing the 53 cents per share expected by the analysts surveyed by Refinitiv.
Net sales rose 11% to $ 6.7 billion, falling short of expectations of $ 6.8 billion. Global sales in the same store increased 15% as the company posted a 10% decrease from the same period last year.
For the full 2021 fiscal year, Starbucks now expects earnings of $ 2.65 to $ 2.75 per share, compared to its previous range of $ 2.42 to $ 2.62 per share. Adjusted earnings of $ 2.90 to $ 3 per share are expected, compared to the previous outlook of $ 2.70 to $ 2.90 per share. The company also increased its revenue prospect from $ 28.5 billion to $ 29.3 billion to $ 28.5 billion to $ 29.3 billion.