The coffee shop chain Starbucks missed market expectations in the second quarter of the fiscal year 2024 with a revenue of 8.6 billion US dollars. Analysts had anticipated a quarterly revenue of 9.12 billion US dollars beforehand, an increase from the 8.72 billion US dollars of the previous year's quarter.

The earnings per share at 0.68 US dollars also fell below the forecasts of analysts who had expected a result of 0.796 US dollars. In the same quarter of the previous year, Starbucks recorded an earnings per share of 0.74 US dollars.

The market's reaction was immediate: In after-hours trading on the NASDAQ, Starbucks shares fell by 11.63 percent to 78.20 US dollars. This decline reflects the disappointment of investors with the current quarterly figures, which fell short of expectations in terms of both revenue and profit.