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Costco lower after-hours despite posting revenue beat, online sales surge

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Costco reported revenue of $44.77B and an EPS of $2.14, compared to an estimated revenue of $43.81B and an estimated adjusted EPS of $2.45. Yahoo Finance's Jared Blikre joined Yahoo Finance Live to break down the key metrics.

Video Transcript

ADAM SHAPIRO: All right, we got a king sized, family sized batch of earnings. We got Costco. Jared, how are they doing? Because they're down after hours.

JARED BLIKRE: Everybody needs a gallon of ketchup every now and again. Yeah, we're down about 1% or 2% there. Second quarter results came in mixed. It was a beat on the top line, but a miss on the bottom line. Here are the numbers. Revenue coming in at $44.77 billion. That's up 15% year over year, and it's higher than the estimate of $43.81 billion.

Now, EPS is where we have a little bit of a stumble because it came in at $2.14, but that was a little bit lower than the $2.43 that the Street was expecting. Also another key metric here-- total company comparable sales-- that includes gas and currency-- that was up 13%, much higher than the estimates of 10%. But unfortunately, it couldn't translate that into higher earnings on the bottom line.

Now analysts have 23 buys, 12 holds, one sell on this. The conference call is at 5:00 PM. And little to no commentary, as is usual in the Costco earnings. But again, a mixed report here because we've got a beat on the top line, miss on the bottom line, still down about 1% in after hours trading, guys.