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Starbucks Q2 Earnings and Revenues Miss Estimates

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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 …

Full story available on Benzinga.com

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