From CNBC: 2024-07-30 15:37:10

Starbucks is set to report Q3 earnings, with analysts expecting 93 cents per share and $9.24 billion in revenue. Shares have dropped 21% this year due to declining U.S. sales and faltering growth in China. The company predicts slow sales recovery over the next few quarters, projecting low single-digit revenue growth by 2024.

CEO Laxman Narasimhan faces pressure as Howard Schultz, former CEO, critiques the company’s store and mobile order experience. With Schultz owning 2% of shares and activist hedge fund Elliott Management taking a stake, Starbucks looks to improve performance amidst challenging market conditions.



Read more at CNBC:: Starbucks (SBUX) Q3 2024 earnings