Starbucks is reeling as customers go elsewhere, sales decline

Starbucks on Tuesday reported quarterly revenue that missed analysts’ expectations as both its U.S. and international cafes faced weaker demand.

Starbucks on Tuesday reported quarterly revenue that missed analysts’ expectations as both its U.S. and international cafes faced weaker demand.

Shares of the company rose more than 1% in extended trading.

Here is what the company reported compared to what Wall Street was expecting, based on a survey of analysts by LSEG:

The coffee giant reported fiscal third-quarter net income attributable to the company of $1.05 billion, or 93 cents per share, down from $1.14 billion, or 99 cents per share, a year earlier.

Excluding items, Starbucks earned 93 cents per share.

https://www.nbcnews.com/business/business-news/starbucks-reeling-customers-go-elsewhere-sales-decline-rcna164395

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