Starbucks Corp.’s Q2 Earnings Match Estimates, Q3 Earnings Guidance Disappoints (SBUX)
World’s largest coffeehouse chain, Starbucks Corporation (NASDAQ: SBUX) reported fiscal second-quarter results late on Thursday, which showed earnings coming in-line with expectation while revenue stood slightly higher than estimate.
Nevertheless, shares slipped about 1.50% in extended trading hours as the Company provided downbeat guidance on the current quarter.
For the quarter, Starbuck reported adjusted earnings of 48 cents a share up from 40 cents a share, in the year-earlier quarter.
Revenue during the quarter jumped 11% to $3.6 billion from $3.20 billion, in the same quarter of last year.
Analysts polled by Thomson Reuters were expecting earnings of 48 cents a share on revenue of $3.59 billion.
Same-store-sales, a key gauge on restaurant chain’s performance as it includes the sales impact from only established stores or stores that were operating at least 12 months, increased 6% aided by 4% rise in traffic and 2% gain in average ticket.
While same-store sales rose 6% in the Americas, it increased 7% in the U.S. In Asia Pacific, including China, same-store-sales climbed 8%, it fell 2% in Europe.
For the fiscal third quarter, Starbuck is expecting earnings to come in the range of 50 to 53 cents a share, which is a penny short than analysts’ expectation. For the fourth quarter, the Company anticipates earnings to be in the range of 54 cents to 57 cents which is in-line with Street’s forecast of 57 cents a share.
More Posts by this author
- Chevron Misses Q1 Revenue Estimate but Earnings Beat Expectations (CVX)
- Burger King Beats Q1 Estimates (BKW)
- Stocks End on a Mixed Note
- Gold Prices Settle Lower; Silver Prices Slip
- Stocks Float in Red Territory
- Stocks Mixed After GDP Data
- Forex Market Update: U.S. dollar Falls Sharply against Yen
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
