Starbucks missed revenue expectations for the fiscal second quarter and offered a third-quarter earnings outlook that was shy of forecasts, sending the stock sharply lower Thursday.
The coffee chain reported second-quarter earnings of 39 cents per share on $4.99 billion in revenue.
Analysts expected Starbucks to report earnings of about 39 cents per share on $5.03 billion in revenue, according to a consensus estimate from Thomson Reuters.
For the current quarter Starbucks said it expects earnings of 48 cents to 49 cents per share. Analysts had expected earnings of 49 cents.
The small misses were enough to knock more than 5 percent off the stock.