Starbucks Stock in Freefall After Earnings Come Up Short

Starbucks stock plunged out of the gate Wednesday after the coffee chain reported earnings. Here's what you need to know.

Starbucks logo on window of Amsterdam location
(Image credit: Nicolas Economou/NurPhoto via Getty Images)

Starbucks (SBUX) stock plunged more than 15% at the start of Wednesday's trading session after the coffee retailer came up short of top- and bottom-line expectations for its fiscal second quarter and lowered its full-year outlook.

In the three months ended March 31, Starbucks said its revenue decreased 2% from the year-ago period to $8.6 billion. Earnings per share (EPS) were down 14% to 68 cents, while global comparable-store sales fell 4% from its fiscal Q2 2023.

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Joey Solitro
Contributor

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.