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Starbucks (SBUX) Stock Slumps on Q2 Revenues Miss, Earnings In-Line

Starbucks Corp. SBUX just released its second quarter 2016 earnings results, posting earnings of $0.39 per share and revenue of $4.99 billion.  

Currently, SBUX has a Zacks Rank #2 (Buy), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Starbucks:                                              

1. Met earnings estimates. The company posted earnings of $0.39 per share, which is right in line with our Zacks Consensus Estimate of $0.39.

2. Missed revenue estimates. The company saw revenue figures of $4.99 billion, lagging behind our consensus estimate of $5.017 billion but reflecting a 9.4% year-over-year increase.

3. Global comparable store sales increased 6%, comprised of a 4% increase in ticket and 2% increase in traffic.

4. Reiterated its FY16 targets of full-year consolidated revenue growth of at least 10% and approximately 1,800 net new stores opening during the fiscal year.

5. SBUX was down $3.16, or 5.18%, to $57.49 as of 4:40 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Starbucks’ Street EPS & Surprise Percent:

Starbucks purchases and roasts high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related equipment primarily through its company-operated retail stores. In addition to sales through its company-operated retail stores, Starbucks sells whole bean coffees through a specialty sales group and supermarkets. The company's objective is to establish Starbucks as the most recognized and respected brand in the world.

Check back later for our full analysis onStarbucks’ second quarter earnings report!

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STARBUCKS CORP (SBUX): Free Stock Analysis Report
 
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