Starbucks Corporation (NASDAQ:SBUX) is set to print its second-quarter financial results after the market close. The stock was trading slightly lower heading into the event and remains down over 40% from the July 23 all-time high of $126.32.
After the multi-national coffee chain printed its first-quarter results on Feb. 1, the long-term downtrend accelerated. For the first quarter, Starbucks reported weak earnings, with an adjusted EPS of 72 cents compared to the analyst estimate of 80 cents. The company reported revenue of $8.05 billion, however, which beat analysts estimate of $7.95 billion.
