Starbucks Corp. Stock Is Down 9% After Earnings: Here's the Big Reason Why

Starbucks Corp. Stock Is Down 9% After Earnings: Here's the Big Reason Why

At 1:05 p.m. EDT on Friday, shares of coffee giant Starbucks Corp. (NASDAQ: SBUX) were down 9.4%, following the release of the company's fiscal third-quarter earnings after the close Thursday. Including that drop, Starbucks investors have seen its share price fall 16% since it hit its all-time high in June. 

Starbucks' results for the quarter that ended July 2 came in a bit mixed, at least relative to analysts' expectations. While earnings -- adjusted to account for one-time charges related to shuttering the Teavana retail stores and foreign-currency impacts -- of $0.55 per share were in line with most projections, the company's 8% revenue growth to $5.7 billion was slightly below expectations. 

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Source: Fool.com