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01.05.2024
Company news: Starbucks (SBUX) quarterly results miss analysts’ expectations
Starbucks (SBUX) reported Q2 FY2024 earnings of $0.68 per share (versus $0.74 per share in Q2 FY2023), missing analysts’ consensus estimate of $0.80 per share.
The company’s quarterly revenues amounted to $8.563 bln (-1.8% y/y), missing analysts’ consensus estimate of $9.123 bln.
The company also lowered its FY2024 outlook for revenue growth to low single digits from the previous guidance of +7-10% y/y, and for EPS growth to flat to low single digits from the previous guidance of +15-20% y/y.
SBUX fell to $77.11 (-12.86%) in pre-market trading.
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