Starbucks Q2 Earnings Brew: Investors Sip On EPS Beat, Revenue Growth As Shares Cool Off After Hours

Starbucks Corp SBUX reported fiscal second-quarter results after the bell. Shares are volatile but remain near 52-week highs. Here's a rundown of the report.

What Happened: Fiscal second-quarter revenue increased 14% year-over-year to $8.72 billion, which beat average estimates of $8.4 billion, according to Benzinga Pro. Adjusted earnings came in at 74 cents per share, which beat consensus estimates of 65 cents per share.

Starbucks said global comparable store sales increased by 11%, driven by a 6% increase in transactions and a 4% increase in average ticket. Operating margin was 15.2%, up from 12.4% year-over-year. 

The company opened 464 new stores in the quarter bringing total locations to 36,634 globally.

"This momentum was made possible by the investments we are making in our stores and partners, and allowed us to continue unlocking capital to further reinvest in our business," said Rachel Ruggeri, CFO of Starbucks.

"As we begin on this next step in our journey, I'm confident that, together with our partners, our execution against our Reinvention plan and broader strategies will position us in our new era."

Starbucks management will discuss full-year 2023 financial targets during a conference call set to begin at 5 p.m. ET.

See Also: Starbucks' Stock Sizzles: Unveiling The Secrets Behind Their 11% Jump In 2023 And What It Means For Investors

SBUX Price Action: Starbucks has a 52-week high of $115.48 and a 52-week low of $68.39.

The stock was down 0.95% after hours at $113.47, according to Benzinga Pro.

Photo: Şahin Sezer Dinçer from Pixabay.