SEATTLE — Increased sales in the Americas and Europe helped boost second-quarter earnings 26% at Starbucks Corp.
Net income in the quarter ended March 31 was $390.4 million, equal to 51c per share on the common stock, which compared with $309.9 million, or 40c per share, during the same quarter of the previous year. Total revenue for the quarter was $3,555.9 million, up 11% from $3,195.9 million.
“Starbucks record operating performance in Q2 continues to demonstrate the underlying strength and resilience of our expanding global business and the increasing relevance of the Starbucks brand to consumers all around the world,” said Howard Schultz, chairman, president and chief executive officer. “Innovation and an enhanced customer experience drove strong comp sales and revenue growth, while a … focus on improving efficiency and controlling costs enabled us to deliver record margins and earnings.”
The company also reported comparable store sales growth of 7% in the United States and 6% globally. Global comparable sales were driven by a 4% increase in traffic and a 2% increase in average ticket.
For the six months ended March 31, the company saw earnings rise 19% to $822.5 million, or $1.08 per share, which compared with $691.9 million, or 90c per share, during the same period of the previous year. Revenue for the quarter was $7,355.4 million, up 11% from $6,631.8 million.