Starbucks’ results miss expectations. But one analyst says this is may be why the stock is up.

Date:

January 30, 2024

Starbucks Corp.
SBUX,
+0.30%
on Tuesday reported fiscal first-quarter profit and sales that missed Wall Street’s expectations. Revenue rose 8% to $9.4 billion, below FactSet estimates for $9.6 billion. Starbucks’ adjusted earnings per share were 90 cents, below FactSet forecasts for 93 cents. Same-store sales rose 5%, compared with FactSet estimates for a 7.1% gain. Operating margins expanded to 15.8%. Shares rose 2.3% after hours.

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Alexandra Williams

Alexandra Williams is a writer and editor. Angeles. She writes about politics, art, and culture for LinkDaddy News.

Starbucks’ results miss expectations. But one analyst says this is may be why the stock is up.

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