Starbucks posts loss as coronavirus bites, but stock pops on ‘steadily recovering’ business

Starbucks (SBUX) saw its fiscal third-quarter revenue plunge by 38{09c3c849cf64d23af04bfef51e68a1f749678453f0f72e4bb3c75fcb14e04d49} year-over-year, as the coffee giant was unable to avoid the devastating impact of the COVID-19 pandemic, and the ensuing lockdowns that kept customers out of stores.

The coffee giant posted a quarterly loss, but beat consensus estimates as