In the first quarter, Starbucks Corp. (SBUX) reported a reduction in earnings compared to the previous year; however, the results surpassed Wall Street expectations.
The corporation achieved earnings of $780.8 million, translating to $0.69 per share, down from $1,024.4 million, or $0.90 per share, a year ago. On average, analysts had projected earnings of $0.67 per share, with their forecasts typically excluding special items.
Revenue for this period experienced a slight decline of 0.3%, falling to $9.397 billion from $9.425 billion in the prior year.
Summary of Starbucks Corp. earnings (GAAP):
- Earnings: $780.8 million compared to $1,024.4 million last year
- Earnings per Share (EPS): $0.69 versus $0.90 last year
- Revenue: $9.397 billion compared to $9.425 billion last year
