Starbucks logo is seen on a cup in this illustration photo taken in the cafe at the airport in Charleroi, Belgium on July 27, 2023.
Jakub Porzyck | Nurphoto | Getty Images
Starbucks on Tuesday reported quarterly earnings that beat analysts’ expectations, but its same-store sales missed Wall Street’s estimates.
Still, the company reaffirmed its fiscal 2023 outlook during its conference call. Starbucks is projecting revenue growth of 10% to 12%. The company slightly raised its adjusted earnings-per-share growth outlook to 16% to 17% from the low end of 15% to 20%.
Shares of the company fell less than 1% in extended trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
Earnings per share: $1 adjusted vs. 95 cents expectedRevenue: $9.17 billion vs. $9.29 billion expected
The coffee giant reported fiscal third-quarter net income attributable to Starbucks of $1.41 billion, or 99 cents per share, up from $912.9…
2023-08-01 18:51:32
Link from www.cnbc.com