Starbucks reported second-quarter revenue of $8.76 billion and adjusted earnings of 41 cents per share. These figures missed analyst expectations of $8.86 billion in revenue and 50 cents in earnings, respectively. The coffee giant suspended its fiscal 2025 guidance last year due to a CEO transition and business challenges, with Brian Niccol taking over as CEO in September. Niccol reaffirmed confidence in the company’s “Back to Starbucks” turnaround plan, despite suspending fiscal 2025 guidance amid executive transition. A dividend of 61 cents per share will be paid May 30. Shares fell 1.24% in after-hours trading.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Starbucks reported second quarter revenue of $8.76 billion with adjusted earnings of 41 cents per share.
00:08These figures miss analyst expectations of $8.86 billion in revenue and 50 cents in earnings respectively.
00:13Coffee giant suspended its fiscal 2025 guidance last year due to a CEO transition and business challenges with Brian Nickel taking over as CEO in September.
00:22Nickel reaffirmed confidence in the company's back to Starbucks turnaround plan.
00:26Despite suspending fiscal 2025 guidance amid executive transition, a dividend of 61 cents per share will be paid May 30th.
00:33Shares fell 1.24% in after hours trading.
00:36For all things money, visit Benzinga.com slash GSTV.