Starbucks (SBUX) shares dropped more than 6% in after-hours trading on Tuesday following a weak fiscal second-quarter report in which both revenue and profit missed analysts’ expectations.

The coffee giant reported revenue of $8.76 billion, up 2% year-over-year, but slightly below Visible Alpha’s consensus. Adjusted earnings per share came in at 41 cents, down from 68 cents the previous year and below Wall Street’s forecasts.

Global same-store sales declined by 1%, exceeding the expected 0.5% drop. The company cited lower transaction volumes, partially offset by higher spending per customer.

The report marked the third under CEO Brian Niccol, who is implementing the “Back to Starbucks” plan focused on modernizing stores, speeding up service, and restoring the condiment bar.

Starbucks stock has fallen about 7% since the start of 2025, despite the ongoing turnaround efforts.