A Starbucks coffee chain in the center of Amsterdam. People sit inside and enjoy coffee after shopping in the cafe, while others are walking.
Nicholas Economu | Noor Photos | Getty Images
Starbucks Quarterly profit and revenue reported on Tuesday missed analysts’ expectations.
The company’s shares fell 8% in after-hours trading.
The company’s report compared with Wall Street expectations, according to a survey of analysts by London Stock Exchange Group (LSEG):
- Earnings per share: 68 cents adjusted, 79 cents expected
- Revenue: $8.56 billion, $9.13 billion expected
The coffee giant reported second-quarter net income attributable to the company of $772.4 million, or 68 cents a share, down from $908.3 million, or 79 cents a share, in the same period last year.
net sales fell 2% to $8.56 billion.
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