Starbucks slumps on fiscal Q2 results miss amid weakness in North America, China

Investing.com - Starbucks slumped afterhours Tuesday after fiscal second-quarter results fell short of Wall Street estimates as weaker sales in North America and China weighed on performance.

Starbucks Corporation (NASDAQ: SBUX) shares lost 10% in after-hours trade following the report.

Starbucks reported earnings of $0.68 on revenue of $8.60 billion. Analysts polled by Investing.com anticipated EPS of $0.80 cents on revenue of $9.13B.

The weaker performance was driven by a slip in comparable store sales in the quarter amid a "highly challenged environment," the company said.

Comparable store sales decreased 4%, confounding consensus estimates for a 1% increase asNorth America comparable store sales fell 3%, and international comparable store sales fell 6%, pressured by a 11% decrease in China.

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