What's Going On With Starbucks Stock?
Portfolio Pulse from Adam Eckert
Starbucks Corp (NASDAQ:SBUX) reported mixed fiscal Q3 results, with revenues of $9.17 billion missing estimates of $9.29 billion, but EPS of $1 beating estimates of 95 cents. Revenues were up 12% YoY, with comparable store sales climbing 10% globally. The company also increased its full-year 2023 earnings growth expectations to 16% to 17%. However, shares were down 1.09% at $100.16 at the time of publication.
August 04, 2023 | 11:12 am
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Starbucks reported mixed Q3 results, with revenues missing estimates but EPS beating. The company increased its full-year 2023 earnings growth expectations, but shares were down following the announcement.
Starbucks' mixed Q3 results, with revenues missing estimates, likely contributed to the short-term drop in the company's share price. However, the increase in full-year 2023 earnings growth expectations could potentially offset this negative impact in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100