Starbucks SBUX reported second-quarter results that beat expectations, helped by a surprise same-store sales gain in China, continued solid demand in the U.S. and higher prices. Net income rose to $908.3 million, or 79 cents a share, from $674.5 million, or 58 cents a share, in the same quarter last year. Adjusted for restructuring costs and the impact of income taxes, the chain earned 74 cents a share, compared with 59 cents in the prior-year quarter.
Revenue increased 14% to $8.72 billion, compared with $7.64 billion in the prior-year quarter. Same-store sales rose 11% globally. In the U.S. and North America overall, they rose 12%. Same-store sales rose 3% in China.
