Analysts expect the popular coffee chain giant to post an 8.5% year-over-year increase in earnings to 64 cents a share.
After three months of brewing, coffee chain Starbucks has brought its financials to a simmer. Now, it is ready to pour a hot cup of freshly ground quarterly earnings figures. Will the report stir investors’ emotions and produce a tasty move to the upside, or will there be a bitter reaction?
Analysts anticipate the world-famous coffee giant to clock in earnings of 64 cents a share, down from 75 cents a share in the prior quarter. The projected earnings are about 8.5% higher than the 59 cents a pop in the year-ago quarter. Starbucks issues results after the market close.
This quarterly report will be the first one for Laxman Narasimhan as chief executive. He took the reins in late March, succeeding Howard Schultz who spent over four decades building Starbucks into one of the world’s most recognized brands. Starbucks stock (ticker: SBUX) is up just under 14% year-to-date.