Starbucks Corp. (NASDAQ:SBUX) fell 5.3% last Friday to close at $57.43, after the announcement of its second-quarter financial performance. The stock, which has been on an upward trajectory, is currently up 23.6% this year.
While Starbucks increased its net income by 18%, its sales figures showed weakness in parts of Europe. Earnings for the second quarter reached $309.9 million or 40 cents per share, compared to $261.6 million or 34 cents per share a year ago. Revenue rose to $3.2 billion, up from $2.79 billion a year ago.