Starbucks Q1 2024 Adj EPS $0.90 Misses $0.93 Estimate, Sales $9.40B Miss $9.59B Estimate
Portfolio Pulse from Benzinga Newsdesk
Starbucks Corporation (NASDAQ:SBUX) reported Q1 2024 adjusted earnings per share (EPS) of $0.90, missing the consensus estimate of $0.93 by 3.23%. Quarterly sales were $9.40 billion, falling short of the $9.59 billion estimate by 1.97%, but representing a 7.87% increase from the same period last year.
January 30, 2024 | 9:05 pm
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Starbucks missed Q1 2024 EPS and sales estimates, reporting $0.90 EPS and $9.40B in sales versus expected $0.93 EPS and $9.59B in sales, respectively.
Missing both EPS and sales estimates is likely to negatively impact investor sentiment and could lead to a short-term decline in Starbucks' stock price. However, the year-over-year sales growth may provide some cushion to the negative impact.
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