Starbucks Corporation Releases Third Quarter 2024 Earnings Results

Tuesday, 30 July 2024, 20:14
Starbucks Corporation (NASDAQ: SBUX) announced its earnings for the third quarter of 2024, revealing a year-over-year decline in total net revenues to $9.1 billion, representing a 1% drop. However, adjusting for currency fluctuations, revenues showed a slight increase of 1%. Notably, global comparable store sales fell by 3%, and net earnings decreased by 7.6% to $1.05 billion. The company reported a GAAP EPS of $0.93, marking a 6% decline from the previous year. In conclusion, while the revenue is impacted by lower store sales, currency resilience offers a silver lining.
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Starbucks Corporation Releases Third Quarter 2024 Earnings Results

Starbucks Q3 2024 Earnings Overview

Starbucks Corporation (NASDAQ: SBUX) reported its latest financial results for the third quarter of 2024.

Financial Performance Highlights

  • Net Revenues: Consolidated net revenues declined 1% year-over-year to $9.1 billion.
  • Revenue Growth: On a constant currency basis, revenues grew 1%.
  • Comparable Store Sales: Global comparable store sales decreased 3%.
  • Net Earnings: Net earnings attributable to Starbucks decreased 7.6% to $1.05 billion.
  • GAAP EPS: Earnings per share declined 6% to $0.93.

Conclusion

In conclusion, while facing challenges with lower sales figures, Starbucks shows signs of resilience through stable revenues on a constant currency basis.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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