Coffee chain Starbucks Corporation (NASDAQ: SBUX) on Tuesday reported mixed results for the third quarter of fiscal 2025, with revenues increasing modestly and earnings declining.
Net revenues increased to $9.46 billion in the June quarter from $9.11 billion in the year-ago quarter. Global comparable store sales dropped 2%, hurt by a decline in comparable transactions that was partially offset by a modest increase in average ticket.
Net earnings attributable to the company were $558.3 million or $0.49 per share in the third quarter, compared to $1.05 billion or $0.93 per share in the same period last year. On an adjusted basis, earnings per share declined 46% year-over-year to $0.50.
“We’ve fixed a lot and done the hard work on the hard things to build a strong operating foundation, and based on my experience of turnarounds, we are ahead of schedule,” said Brian Niccol, Starbucks’ chief executive officer.
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