The Strategist

Starbucks net income grows by 18 percent

05/03/2023 - 10:03

According to the company, Starbucks' net income for the first half of its fiscal year 2022–2023, which concluded on April 2, increased 18.3 percent year over year to $1.76 billion.

Earnings per share increased from $1.28 to $1.53 from the previous year. Revenue for the time period increased by 11.1 percent to $17.433 billion.

Net profits for the coffee chain's fiscal second quarter increased 34.7 percent year over year to $908.3 million. Starbucks' earnings per share increased from $0.58 to $0.79 over the previous year. Quarterly revenue grew by 14.2% to $8.719 billion.

In addition, the company added 464 additional coffee shops during the second quarter, up from 313 in the same period of the previous fiscal year.



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