Starbucks’ fiscal second quarter results beat analyst estimates on both the top and bottom lines. It was the first earnings report since Laxman Narasimhan took over the CEO role from founder Howard Schultz. In the company's earnings release, Narasimhan noted "our leadership team now has a clear line of sight into our growth headroom, as well as our opportunities to enhance margins and modernize the business, brand, partner experience and culture of Starbucks." On the company's earnings call, leadership confirmed its full-year guidance, but some investors had been expecting that they would raise their guidance. As a result, shares traded lower after hours.
Yahoo Finance's Brad Smith, Seana Smith, and Brooke DiPalma listened into the Starbucks (SBUX) earnings call. They noted what leadership said about its guidance, the focus on China, and the head-scratching comments about the company "refounding" itself.
Key video moments:
00:00:20 Checking in on Starbucks shares
00:01:30 Comments on guidance
00:02:25 Key takeaways
00:08:20 Brad Smith & Seana Smith's vibe check
00:10:13 Wall Street vs. Main Street
(Source: Yahoo), all rights reserved by original source.