Starbucks is set to serve up another set of strong results when it hands down its second quarter fiscal 2023 results after the market close on Tuesday, May 2.
The Seattle-based global coffee chain is expected to report double-digit revenue growth year-over-year. Per Zacks Consensus Estimate, revenue is expected to be $8.39 billion, up about 10% from Starbucks' previous 2Q record of $7.6 billion in fiscal 2022.
This is a decline, however, from its all-time high record quarterly revenue of $8.7 billion achieved in the previous quarter, which fell over the 2022-23 holiday season.
Adjusted earnings per share are expected to come in at $0.64 for the 2Q, up 8.5% from earnings per share of $0.59 in the year-ago quarter.
With lockdowns in China easing from January, the coffee chain will likely see its performance boosted this quarter.
Starbucks said restrictions in China had an estimated $0.06 impact on its earnings per share during the first quarter.
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