“This is more about stock positioning than anything fundamental.” “The stock has outperformed, and expectations were high,” said Credit Suisse analyst Lauren Silberman. Shares bounced around in after-hours trading and were last more than 2% lower. Excluding one-time items, Starbucks earned 74 cents per share, beating estimates of 65 cents. Globally, the Seattle-based chain’s comparable sales climbed 11%, trouncing analysts’ expectation of a 7.36% rise.Ĭustomers visited more often and spent more per trip, according to the earnings release. “The 3% number in China was definitely better than we anticipated and clearly an improvement in the China trajectory, probably a few months ahead of expectations,” said BTIG analyst Peter Saleh. Instead, the world’s largest coffeehouse chain posted a 3% rise in China comparable sales in its second quarter ended April 2, helping boost international sales 7%, more than double the 2.94% increase of the average analyst’s estimate, according to Refinitiv data.
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