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Starbucks stock sinks on earnings miss, same-store sales drop

Julie Hyman and Josh Lipton

Starbucks (SBUX) reported disappointing second quarter results. Adjusted earnings per share of $0.68 fell short of the Street's $0.80 estimate. Net revenue of $8.56 billion missed expectations of $9.13 billion. The company reported a same-store sales decline of 4%, a 1.46% rise had been expected. In China, same-store sales fell 11% versus an expected decline of 1.62%. US same-store sales fell 3% compared to an expected gain of 2.31%.

Yahoo Finance's Julie Hyman and Josh Lipton break down the coffee chain's quarterly results.

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This post was written by Stephanie Mikulich.