- Company News: Starbucks (SBUX) posts smaller-than-expected quarterly loss
Market news
29 July 2020
Company News: Starbucks (SBUX) posts smaller-than-expected quarterly loss
Starbucks (SBUX) reported Q3 FY 2020 loss of $0.46 per share (versus earnings of $0.78 per share in Q3 FY 2019), better than analysts’ consensus estimate of -$0.57 per share.
The company’s quarterly revenues amounted to $4.222 bln (-38.1% y/y), beating analysts’ consensus estimate of $4.138 bln.
The company issued in-line guidance for Q4 FY 2020, projecting EPS of $0.18-0.33 versus analysts’ consensus estimate of $0.27 and its prior guidance of $0.15-0.40.
It also issued upside guidance for FY 2020, projecting EPS of $0.83-0.98 versus analysts’ consensus estimate of $0.77 and its prior guidance of $0.55-0.95.
SBUX rose to $78.80 (+5.57%) in pre-market trading.
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