Costco Sales Fall Short as Earnings Beat Forecasts. The Stock Is Down.

Costco Wholesale

beat earnings expectations, but the stock fell in after-hours trading as revenue came in lower than projected.

The wholesale retailer’s fiscal second-quarter sales jumped 6.5% to $54.24 billion. Factoring in an additional $1 billion in member fees, Costco’s (ticker: COST) total revenue for the quarter was $55.3 billion, lower than the consensus estimate for $55.6 billion, according to FactSet. The total is up from $51.9 billion a year ago.