Starbucks Q2 Earnings Fall Short, Stock Drops 9.92%

Starbucks Corp (SBUX) reported disappointing fiscal second-quarter financial results on Tuesday, missing analyst estimates for both revenue and earnings. Revenue declined 2% year-over-year to $8.6 billion, while earnings per share came in at 68 cents, below estimates of 79 cents per share. Comparable store sales fell 4% globally, driven by a decline in transactions. The company ended the quarter with 38,951 total locations globally, after opening 364 net new stores in the quarter.

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