Investing.com - Starbucks (NASDAQ:SBUX) reported on Tuesday second quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Starbucks announced earnings per share of $0.32 on revenue of $6 billion. Analysts polled by Investing.com anticipated EPS of $0.34 on revenue of $5.91 billion.
That compared to to EPS of $0.60 on revenue of $6.31 billion in the same period a year before. Starbucks had reported EPS of $0.79 on revenue of $7.1 billion in the previous quarter.
Analysts are expecting EPS of $0.09 and revenue of $4.85B in the upcoming quarter.
Starbucks shares lost 1.6% in after-hours trade following the report.
"Post-pandemic adjustment will be painful for both Starbucks and its investors," Investing.com analyst Haris Anwar said. "Sales are likely to take a long time to come back to previous levels as some consumers alter their behaviors and avoid visiting restaurants."
"But the coffee chain is a very innovative and dynamic player in the food business," Anwar said. "This weakness in its shares price is an attractive opportunity for buy-and-hold investors. The company’s cash position is enviable and it has the ability to defend its market share."
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