Costco Q2 Sales Growth Trails Wall Street Expectations
Synopsis
Net sales for the quarter increased 9.1% to $68.24 billion, though falling below an estimated $69.32 billion.
Shares of Costco Wholesale Corporation (COST) fell marginally after hours on Thursday after the company announced second quarter net sales below Wall Street expectations despite growth in earnings.
For Q2, the company reported net income of $4.58 per diluted share, compared to $4.02 per diluted share, last year, and above an analyst estimate of $4.55 per share.
Net sales for the quarter, meanwhile, increased 9.1% to $68.24 billion, though falling below an estimated $69.32 billion.
Same store sales for the quarter rose 6.7% on an adjusted basis, excluding impacts from changes in gasoline prices and foreign exchange, the company said.
Shares of the company slipped 0.5% after hours after closing 2.4% lower in the regular trading session.
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