Wall Street analysts estimate quarterly comparable sales of Starbucks Corp. as strict measures in China to halt COVID-19 hit US chain sales in the country, according to Reuters.
Comparable sales in China fell 23%, overshadowing 12% growth in North America.
Global comparable sales rose 7% in the second quarter, while analysts polled by Refinitiv spoke of a 7.1% increase.
Total revenue rose to $ 7.64 billion from $ 6.67 billion a year earlier, beating analysts’ estimates by $ 7.59 billion.
At the same time, net income amounted to 674.5 million dollars or 58 cents per share from 659.4 million dollars or 56 cents per share in the corresponding period last year.
Without exception, Starbucks earned 59 cents a share, confirming analysts’ estimates.
Source: Capital
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