Starbucks Q2 FY2026 Earnings: Triple Miss as Same-Store Sales Decline for Fifth Consecutive Quarter

# Starbucks Q2 FY2026 Earnings: Triple Miss as Same-Store Sales Decline for Fifth Consecutive Quarter

> **Quick answer:** Starbucks missed on every key metric in Q2 FY2026: adjusted EPS of $0.41 missed the $0.49 consensus by $0.08, revenue of $8.76 billion came in below the $8.83 billion forecast, and global same-store sales fell 1% against an expected -0.8% decline. US comps worsened to -2% as customer transactions dropped 4%. SBUX fell roughly 6% in after-hours trading. The results represent a fifth consecutive quarter of comp declines, but one bright spot emerged — China comparable sales were flat, significantly beating analyst expectations of a 2%-plus decline.

Starbucks Q2 FY2026 earnings results, released after market close on Tuesday, April 28, delivered a triple miss that sent shares down approximately 6% in after-hours trading. The numbers make clear that CEO Brian Niccol's "Back to Starbucks" turnaround, now in its seventh month, is producing a split verdict: people are starting to come back to the brand, but they are spending less per visit — and the operational costs of rebuilding the experience are squeezing margins hard.

This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial advisor for personal financial decisions.

## Starbucks Q2 FY2026 Results: Every Number That Missed

The headline triple miss was unambiguous. Starbucks reported adjusted earnings per share of $0.41, missing the Wall Street consensus of $0.49 by $0.08 — a 16% shortfall. Revenue came in at $8.76 billion, below the $8.83 billion forecast. Global comparable store sales fell 1%, worse than the -0.8% analysts had expected.