Starbucks posts revenue of $6.82B in Q2, up 8% YoY

Thursday, 25. July 2019 22:08

Starbucks Corporation announced on Thursday that its revenue for the second quarter of 2019 amounted to $6.82 billion, which was an increase of 8% compared to the same period last year and marked an all-time high for the beverage company.

Meanwhile, diluted earnings per common share were reported at $0.78 compared to the $0.72 that was forecast. Global comparable store sales were up 3% on the back of strong growth in both the United States and China. The coffee chain also opened 319 new stores in the second quarter of the year to pass the 30,000 store mark and increase 7% on an annual basis, once again propelled by a 17% growth in new outlets in China.

"Starbucks delivered another quarter of solid operating results, demonstrating that our ‘Growth at Scale’ agenda is working," said Starbucks President and CEO Kevin Johnson. "We are especially pleased with our comparable store sales growth in our two lead markets, the US and China, where we are also continuing to drive strong new store development with industry-leading returns. With solid first-half financial results, we are on track to deliver on our full-year commitments," he added.

Starbucks' stock popped 6.34% in after-hours trading following the report's release.

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Breaking the News / DZ