Investing.com - Starbucks (NASDAQ:SBUX) reported on Tuesday second quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Starbucks announced earnings per share of $0.32 on revenue of $6.00B. Analysts polled by Investing.com anticipated EPS of $0.34 on revenue of $5.91B. That with comparison to EPS of $0.6 on revenue of $6.31B in the same period a year before.Starbucks had reported EPS of $0.79 on revenue of $7.10B in the previous quarter.Analysts are expecting EPS of $0.09 and revenue of $4.85B in the upcoming quarter.
Starbucks shares are down 10% from the beginning of the year and are trading at $78.20 , down-from-52-week-high.They are under-performing the Nasdaq 100 which is down 1.42% year to date.
Starbucks shares lost 0.67% in after-hours trade following the report.
Starbucks follows other major Services sector earnings this month
Starbucks's report follows an earnings beat by Verizon on Friday, who reported EPS of $1.26 on revenue of $31.61B, compared to forecasts EPS of $1.22 on revenue of $32.38B.
AT&T had missed expectations on Wednesday, April 22, 2020 with first quarter EPS of $0.84 on revenue of $42.78B, compared to forecast for EPS of $0.85 on revenue of $44.2B.
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