Starbucks (SBUX) Q1 2024 earnings


A Starbucks coffee cup sits on a table at one of the coffee chain’s locations in Miami, Florida, on June 11, 2021.

Joe Raedle | Getty Images News | Getty Images

Starbucks on Tuesday reported quarterly earnings and revenue that missed Wall Street’s expectations as both domestic and international sales fell short of estimates.

CEO Laxman Narasimhan said on the company’s conference call that the chain faced “headwinds,” including a boycott in the U.S. and increased discounting by rivals in China. The company lowered its full-year revenue outlook as a result.

Shares initially fell in extended trading but recovered, rising about 3%.

Here’s what the company reported for its fiscal first quarter…

Source cnbc.com

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