Investing.com -- Starbucks reported Tuesday better-than-expected second-quarter results, driven by growth in its core North America market and a rebound in China.
Starbucks (NASDAQ:SBUX) shares fell 2.5% in after-hours trade following the report.
Starbucks announced EPS of $0.74 on revenue of $8.7 billion. Analysts polled by Investing.com anticipated EPS of 65 cents on revenue of $8.4B.
Comparable store sales increased 11%, underpinned by a 6% increase in comparable transactions and a 4% increase in the average ticket.
In its core North America market, Starbucks reported comparable store sales increased 12%. International comparable store sales increased 7%, while China, the coffee chain's second largest market, was up 3% year-on-year in Q2. The return to growth in China following a 29% slump in Q1 comes after the country lifted its zero-COVID policy.