Starbucks Reports Q2 Earnings Miss, Expects Coronavirus Impact To Intensify

Starbucks SBUX shares are trading lower after the company reported worse-than-expected second-quarter EPS results. The company also said it sees coronavirus impact to intensify in the third quarter.

Starbucks reported quarterly earnings of 32 cents per share, which missed the analyst consensus estimate of 34 cents by 5.88%. This is a 46.67% decrease over earnings of 60 cents per share from the same period last year.

The company reported quarterly sales of $6 billion, which beat the analyst consensus estimate of $5.890 billion by 1.87%. This is a 4.85% decrease over sales of $6.306 billion the same period last year.

$SBUX Turns out governments aren’t in charge of re-opening consumer spending.

Chinese Starbucks units expected to comp negative 25-35% in Q3, -10% to flat in Q4.

-25% comps 3 months after re-opening would murder what’s left of the US malls. pic.twitter.com/OgjsF52AIj

— Jeff Macke (@JeffMacke) April 28, 2020

Comps were down 10% year over year.

Starbucks shares were trading down 1.64% at $77.40 in Tuesday's after-hours session. The stock has a 52-week high of $99.72 and a 52-week low of $50.02.

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