04:21 PM EDT, 04/30/2024 (MT Newswires) -- Starbucks ( SBUX ) reported fiscal Q2 non-GAAP earnings Tuesday of $0.68 per share, down from $0.74 a year earlier.

Analysts polled by Capital IQ expected $0.80

Net revenue for the quarter ended March 31 was $8.56 billion, down from $8.72 billion a year earlier. Analysts surveyed by Capital IQ expected $9.16 billion.

Comparable-store sales during the quarter were down 4% worldwide, the company said. Analysts polled by Capital IQ expected 1% growth.

The stock was down more than 9% in extended trading.