SBUX - Starbucks Stock Is Tumbling Wednesday: What's Going On? | Benzinga
Starbucks Corp (NASDAQ:SBUX) shares are trading lower Wednesday following worse-than-expected earnings result for the second quarter. Multiple analysts lowered price targets on the stock following the print.
What To Know: Starbucks reported second-quarter revenue of $8.6 billion, which missed the consensus estimate of $9.129 billion, according to Benzinga Pro. The company’s top-line results were down 2% year-over-year.
Starbucks reported quarterly earnings of 68 cents per share, which missed analyst estimates of 79 cents per share.
Comparable store sales declined 4% globally, driven by a 6% decline in comparable transactions, partially offset by a 2% increase in average ticket. Comps fell 3% in North America, 11% in China and 6% internationally ...