At first glance, the news Starbucks (NASDAQ: SBUX) gave its investors Tuesday evening didn't sound so bad.
Reporting on earnings for its fiscal Q2 2022, the coffee restaurateur delivered quarterly sales of $7.6 billion, GAAP profits of $0.58 per share, and "non-GAAP" profits of $0.59 per share -- just as analysts had predicted it would. Total sales climbed 15% year over year, while earnings were up only 4%. But that's just what Wall Street was expecting Starbucks to report, so at least no one was disappointed.
That is to say, no one was disappointed until Starbucks itself disappointed them.
Source Fool.com