Starbucks reported third-quarter losses of 46 cents a share, which exceeded analyst consensus estimates by 13 cents. This is a 158.97% decrease over earnings of 78 cents per share from the same period last year.
The company reported quarterly sales of $ 4.22 billion, which exceeded the analyst consensus estimate of $ 4.06 billion by 3.99%. This is a 38.12% decrease on sales of $ 6.82 billion in the same period last year.
Starbucks increased the adjusted EPS guidance for fiscal year 2020 from 55-95 cents to 83-98 cents compared to the estimate of 88 cents. Comps fell 12% -17%.
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Starbucks shares closed down 2.38% to $ 74.64 on Tuesday and posted a rise of about 2% in after-hours trading. The stock has a 52-week high of $ 98.94 and a 52-week low of $ 50.02.
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