Starbucks earnings, sales miss expectations

Starbucks Corp.
SBUX,
+0.30%
on Tuesday reported fiscal first-quarter profit and sales that missed Wall Street’s expectations. Revenue rose 8% to $9.4 billion, below FactSet estimates for $9.6 billion. Starbucks’ adjusted earnings per share were 90 cents, below FactSet forecasts for 93 cents. Same-store sales rose 5%, compared with FactSet estimates for a 7.1% gain. Operating margins expanded to 15.8%. Shares rose 2.3% after hours.