
• Reported GAAP EPS of $0.45 up 32.35% YoY • Reported revenue of $9.53B up 8.79% YoY
Bullish
Starbucks delivered robust revenue growth and expanded consolidated operating margin, driven by strong comparable store sales. The strategic China joint venture is expected to accelerate long-term growth.
Bearish
Starbucks' North America operating income declined due to labor and inflationary pressures, while the effective tax rate increased from China restructuring. Ongoing commodity price volatility remains a key risk for Starbucks.