Starbucks Q3 Adj $0.93, Inline, Sales $9.11B Miss $9.24B Estimate
Portfolio Pulse from Benzinga Newsdesk
Starbucks (NASDAQ:SBUX) reported Q3 earnings of $0.93 per share, meeting analyst estimates but reflecting a 7% decrease from last year. Quarterly sales were $9.11 billion, missing the $9.24 billion estimate and showing a slight decline from $9.17 billion last year.
July 30, 2024 | 8:06 pm
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Starbucks reported Q3 earnings of $0.93 per share, meeting expectations but down 7% from last year. Sales of $9.11 billion missed estimates and were slightly down from last year.
While Starbucks met earnings expectations, the 7% decline from last year and the miss on sales estimates are likely to negatively impact the stock price in the short term. Investors may react to the slight decline in both earnings and sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100