The Clap
Starbucks (NASDAQ: SBUX) reported an EPS of 81 cents and revenues of $8.41 billion in its fiscal Q4 2022, beating analysts’ expectations.
The Deets
Starbucks saw its same growth sales increase by 11% YoY, as consumers spent more on average and increased customers.
In addition, Starbucks provided a strong forecast for the coming 3 years, estimating an EPS growth of 15-20% annually.
So What
Although earnings did surpass expectations, the impact of lockdown restrictions in China took a toll on the company’s international performance.
The company saw its same-store sales drop by 16% in China.
