Starbucks: Q1 revenue up 19.3% YoY to $8.05 billion
Starbucks Corporation announced on Tuesday that its total net revenues for the first quarter of the fiscal year 2022 came in at $8.05 billion, marking a 19.3% jump from the corresponding period in 2021.
In the first trimester of 2022, operating income soared 28.9% to $1.18 billion, diluted net earnings per common share grew 30.2% to $0.69, and net earnings attributable to Starbucks were 31.1% higher to reach $815.9 million.
“As we enter the third year of this pandemic, our stores continue to play an important role as a community gathering place that offers safe, familiar and convenient experiences for our customers. Although demand was strong, this pandemic has not been linear, and the macro environment remains dynamic as we experienced higher-than-expected inflationary pressures, increased costs due to Omicron and a tight labor market,” President and CEO Kevin Johnson commented in the report.
After the release of the latest quarterly results, company shares fell 5.10% in late trading.
Get involved!
Comments