Starbucks is set to announce its second-quarter earnings this Wednesday after market close. Analysts expect revenue to decline 3% year on year, a reversal from the 3.8% increase recorded in the same quarter last year. The company beat revenue expectations last quarter, reporting $9.53 billion, up 8.8% year on year, with strong same-store sales and EPS beats. Over the last 30 days, analyst estimates have remained largely unchanged, though Starbucks has missed Wall Street revenue estimates multiple times over the past two years. The average analyst price target stands at $106.45, compared to the current share price of $104.
Starbucks CorporationAnalysts expect Q2 revenue to decline 3% year on year, a reversal from prior growth, and the company has missed revenue estimates multiple times recently.