Starbucks on Tuesday reported quarterly earnings and revenue that missed analysts’ expectations.
Shares of the company fell 8% in extended trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: 68 cents adjusted vs. 79 cents expected
Revenue: $8.56 billion vs. $9.13 billion expected
The coffee giant reported fiscal second-quarter net income attributable to the company of $772.4 million, or 68 cents per share, down from $908.3 million, or 79 cents per share, a year earlier.
Net sales dropped 2% to $8.56 billion.
Source: https://www.cnbc.com/2024/04/30/starbucks-sbux-earnings-q2-2024.html
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