Starbucks Q2 2024 Adj EPS $0.68 Misses $0.79 Estimate, Sales $8.600B Miss $9.129B Estimate
Portfolio Pulse from Benzinga Newsdesk
Starbucks reported Q2 2024 earnings with an adjusted EPS of $0.68, missing the $0.79 estimate, and sales of $8.600B, below the $9.129B estimate. This represents a 1.37% decrease in sales compared to the same period last year.
April 30, 2024 | 8:06 pm
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Starbucks missed Q2 2024 earnings and sales estimates, with a slight decrease in sales compared to last year.
Missing both EPS and sales estimates significantly, especially in a competitive market, typically leads to negative investor sentiment and can result in a short-term decrease in stock price. The reported decrease in sales year-over-year further compounds concerns about growth and profitability, likely leading to a negative short-term impact on SBUX's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100