Company seeing momentum continuing in US and China
Starbucks’s revenue beat expectations in the latest sign that diners aren’t quitting their lattes even in tough economic conditions.
Sales by that measure – which tracks how company-operated stores open for more than 13 months are doing – rose faster than expected in the US and China, the company’s two largest geographies. Investors were looking for continued momentum in North America but had questions about the Asian country’s uneven recovery, UBS analyst Dennis Geiger wrote before the report.
Revenue including new restaurants was $9.4 billion , topping expectations. Earnings were $1.06 a share, ahead of estimates.
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