Starbucks (SBUX) Q2 2026 earnings

Starbucks on Tuesday said it was raising its full-year outlook for comparable earnings and same-store sales growth after reporting its second straight quarter of traffic growth.

“This quarter marked a milestone for Starbucks – and the turn in our turnaround,” CEO Brian Niccol said in a video posted alongside the company’s fiscal second-quarter results.

For fiscal 2026, the coffee giant was previously projecting adjusted earnings per share in a range of $2.15 to $2.40 and global and U.S. same-store sales growth of at least 3%, based on the forecast it shared in late January.

The company is expected to share more details on its new projections during its earnings conference call at 4:15 p.m. ET.

Here’s what the company reported for the period ended March 29 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

• Earnings per share: 50 cents adjusted vs. 43 cents expected
• Revenue: $9.53 billion vs. $9.16 billion expected

The company said net sales rose 9% to $9.53 billion.

Starbucks’ global same-store sales, which only includes cafes open at least a year, increased 6.2%, fueled by more visits to its locations. Wall Street was projecting same-store sales growth of 4%, according to StreetAccount estimates.

North America, the company’s home market, drove most of that same-store sales growth. U.S. same-store sales climbed 7.1%, driven by a 4.3% jump in traffic.

Outside the U.S., growth was more tepid. International same-store sales rose 2.6%.

China, the company’s second-largest market, weighed on its results, with same-store sales growth of just 0.5%. Starbucks has been leaning on more discounts in China to drive more visits, resulting in 2.1% higher traffic but a 1.6% decline in average spend.

Shares of Starbucks have risen about 16% in the last 12 months as of Tuesday’s close, trailing the S&P 500′s gains of roughly 29%. The company has a market cap of about $110 billion.

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