Q2 25 EPS
$0.41
MISS 15.24%
Est. $0.48
Q2 25 Revenue
$8.76B
MISS 0.82%
Est. $8.83B
vs S&P Since Q2 25
+7.2%
BEATING MARKET
SBUX +37.1% vs S&P +30.0%
Market Reaction
Did SBUX Beat Earnings? Q2 2025 Results
Starbucks delivered a disappointing second quarter for fiscal 2025, missing on both the top and bottom lines as the costs of its sweeping "Back to Starbucks" turnaround weighed heavily on results. The company posted non-GAAP EPS of $0.41, falling 15.… Read more Starbucks delivered a disappointing second quarter for fiscal 2025, missing on both the top and bottom lines as the costs of its sweeping "Back to Starbucks" turnaround weighed heavily on results. The company posted non-GAAP EPS of $0.41, falling 15.24% short of the $0.48 consensus estimate, while revenue of $8.76 billion rose 2.3% year-over-year but came in 0.82% below expectations. The primary culprit was a deliberate and aggressive reinvestment in labor and store operations under CEO Brian Niccol, which compressed non-GAAP operating margin by 460 basis points to just 8.2% and pushed GAAP operating income down 45% to $601 million. Global comparable store sales slipped 1%, with North American transaction volumes falling 4% even as higher average ticket partially cushioned the blow. Against a broader backdrop of softening consumer traffic pressuring the quick-service restaurant industry, Niccol maintained that early turnaround signals validate the strategy, with the company framing its disciplined investments as the foundation for durable long-term growth, though no specific fiscal 2025 financial guidance was issued.
Key Takeaways
- • Net new company-operated store growth of 5% over 12 months in North America
- • 3% increase in average ticket in North America offset by 4% decline in transactions
- • International comparable store sales increased 2% driven by 3% transaction growth
- • China transactions up 4% though offset by 4% ticket decline
- • Global ready-to-drink revenue increased within Channel Development
- • Acquisition of a U.K. licensed business partner contributed to International revenue growth
SBUX YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
SBUX Revenue by Segment
With YoY comparisons, source: SEC Filings
SBUX Revenue by Geography
With YoY comparisons, source: SEC Filings
“My optimism has turned into confidence that our 'Back to Starbucks' plan is the right strategy to turn the business around and to unlock opportunities ahead.”
— Brian Niccol, Q2 2025 Earnings Press Release
SBUX Earnings Trends
SBUX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SBUX EPS Trend
Earnings per share: estimate vs actual
SBUX Revenue Trend
Quarterly revenue: estimate vs actual
SBUX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | $0.50 | — | $9.53B | +3.31% |
| Q1 26 MISS | $0.59 | $0.56 | -4.58% | $9.92B | +2.68% |
| Q4 25 MISS FY | $0.58 | $0.52 | -10.34% | $9.57B | +2.28% |
| FY Full Year | $2.16 | $2.13 | -1.24% | $37.18B | +0.58% |
| Q3 25 MISS | $0.65 | $0.50 | -22.56% | $9.46B | +1.58% |
| Q2 25 MISS | $0.48 | $0.41 | -15.24% | $8.76B | -0.82% |