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Economy

Starbucks Profits Beat Estimates, Shares Dive On Outlook

View Source | May 3, 2023 7:24 am

  • Starbucks reported quarterly profits that topped expectations, but the company’s outlook failed to impress investors.
  • Shares fell about 6% in extended trading after the company did not lift its 2023 guidance.
  • Business in China rebounded with spending increasing as most of the country’s COVID-19 curbs have been scrapped.
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