SBUX - Starbucks Q2 Earnings and Revenues Miss Estimates | Benzinga
Starbucks (NASDAQ: SBUX) came out with quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -13.92%. A quarter ago, it was expected that this coffee chain would post earnings of $0.92 per share when it actually produced earnings of $0.90, delivering a surprise of -2.17%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Starbucks, which belongs to the Zacks Retail - Restaurants industry, posted revenues of $8.56 billion for the quarter ended March 2024, missing the Zacks Consensus Estimate by 6.31%. This compares to year-ago revenues of $8.72 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Starbucks shares have lost about ...