Starbucks revenue tops estimates as U.S. sales growth offsets declines in China

Starbucks on Tuesday reported quarterly revenue that topped analysts' expectations as U.S. sales growth offset sharp declines in China.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

The coffee giant reported fiscal second-quarter net income attributable to Starbucks of $674.5 million, or 58 cents per share, up from $659.4 million, or 56 cents per share, a year earlier.

Excluding items, Starbucks earned 59 cents per share, in line with estimates from analysts surveyed by Refinitiv.

Net sales rose 14.5% to $7.64 billion, topping expectations of $7.6 billion.

Read the full earnings report here.