Coffee chain Starbucks Corporation (NASDAQ: SBUX) on Tuesday announced financial results for the second quarter of 2022, reporting an increase in revenues amid positive comparable store performance.
The company reported total revenues of $7.6 billion for the March quarter, compared to $6.7 billion in the same period of 2021. Comparable store sales increased 7%.
Adjusted net income came in at $0.59 per share during the three-month period, compared to $0.61 per share in the year-ago quarter. On a reported basis, net profit was $674.5 million or $0.58 per share, compared to $659.4 million or $0.56 per share last year.
Check this space to read management/analysts’ comments on Starbucks’ Q2 2022 earnings
“We are single-mindedly focused on enhancing our core U.S. business through our partner, customer and store experiences. Given record demand and changes in customer behavior we are accelerating our store growth plans, primarily adding high-returning drive-thrus, and accelerating renovation programs so we can better meet demand and serve our customers where they are,” said Howard Schultz, interim chief executive officer.
