Starbucks reports declining sales and profits in the third quarter of 2024

7/31/2024, 9:11 AM

Starbucks reports on business development in the third quarter of 2024 – shareholders eagerly await detailed figures.

Eulerpool News Jul 31, 2024, 9:11 AM

The globally known coffeehouse chain Starbucks recorded a decline in revenue and profit in the third quarter of 2024, largely confirming analysts' expectations but falling short of the previous year's results.

The earnings per share were 0.93 US dollars, below the previous year's figure of 1.00 US dollars. However, these numbers were exactly in line with analysts' forecasts.

On the revenue side, Starbucks achieved $9.1 billion in the current reporting quarter, a decline compared to $9.2 billion in the previous year. Here too, the expectations of analysts, who had anticipated $9.24 billion in revenue, were not met.

Despite these mixed numbers, the Starbucks stock remained stable in after-hours trading on NASDAQ. At times, the stock price rose by 1.90 percent to $77.38.

Sure, here's the translation to English:

"The development reflects the challenges currently faced by Starbucks, especially in a competitive market environment and in light of inflation and changing consumer habits. However, the slight increase in the stock price could be an indication that investors still have confidence in the company's long-term potential.

Starbucks has heavily focused on expanding into international markets in recent years while simultaneously trying to improve the customer experience through technological innovations and new product offerings. The current quarterly figures will serve as an indicator of how well the company can implement these strategies to secure future growth.

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