Starbucks Corp. Q2 Profit Decreases, misses estimates

(RTTNews) - Starbucks Corp. (SBUX) released a profit for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $772.4 million, or $0.68 per share. This compares with $908.3 million, or $0.79 per share, in last year's second quarter.

Excluding items, Starbucks Corp. reported adjusted earnings of $0.68 per share for the period.

Analysts on average had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.8% to $8.56 billion from $8.72 billion last year.

Starbucks Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $772.4 Mln. vs. $908.3 Mln. last year. -EPS (Q2): $0.68 vs. $0.79 last year. -Revenue (Q2): $8.56 Bln vs. $8.72 Bln last year.