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Benzinga
Benzinga
Business
Wayne Duggan

Starbucks Stock Slumps After Q1 Earnings: 5 Top Analysts React To Rising Costs, Guidance Cut

Starbucks United States SBUX Starbucks Corporation

Starbucks Corporation (NASDAQ:SBUX) shares traded slightly lower on Wednesday after the company reported fiscal first-quarter earnings on Tuesday afternoon and said rising costs may eat into profitability in 2022.

Starbucks reported first-quarter adjusted EPS of 72 cents, missing the consensus analyst estimate of 80 cents. First-quarter revenue of $8.05 billion beat analyst expectations of $7.95 billion. Revenue was up 19% from a year ago.

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