Investing.com - Luckin Coffee reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Luckin Coffee announced earnings per share of -0.26 on revenue of 331.94M. Analysts polled by Investing.com anticipated EPS of -0.27 on revenue of 323.76M. Luckin Coffee had reported EPS of -0.32 on revenue of 215.68M in the previous quarter.Analysts are expecting EPS of -0.29 and revenue of 308.9M in the upcoming quarter.
Luckin Coffee shares are down 71.73% from the beginning of the year and are trading at 2.04 , down-from-52-week-high.They are under-performing the Nasdaq which is up 5.67% year to date.
Luckin Coffee follows other major Services sector earnings this month
Luckin Coffee's report follows an earnings beat by Alibaba ADR on Friday, May 22, 2020, who reported EPS of 9.2 on revenue of 114.31B, compared to forecasts EPS of 6.05 on revenue of 107.45B.
Walmart had beat expectations on Tuesday, May 19, 2020 with first quarter EPS of 1.18 on revenue of 134.62B, compared to forecast for EPS of 1.12 on revenue of 132.69B.
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