Starbucks reported second-quarter revenue of $8.76 billion and adjusted earnings of 41 cents per share. These figures missed analyst expectations of $8.86 billion in revenue and 50 cents in earnings, respectively. The coffee giant suspended its fiscal 2025 guidance last year due to a CEO transition and business challenges, with Brian Niccol taking over as CEO in September. Niccol reaffirmed confidence in the company’s “Back to Starbucks” turnaround plan, despite suspending fiscal 2025 guidance amid executive transition. A dividend of 61 cents per share will be paid May 30. Shares fell 1.24% in after-hours trading.
