Finances
Starbucks (SBUX) earnings Q2 2024
A store of Starbucks Coffee shop chain located in Amsterdam city center with people sitting inside, enjoying a coffee after shopping in the cafe, while others are walking by.
Nicolas Economou | Nurphoto | Getty Images
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.
This story is developing. Please check back for updates.
