Costco Wholesale Corporation (COST), the warehouse retailer, came out with second-quarter fiscal 2015 results, wherein adjusted earnings of $1.25 per share surged 19% from the prior-year quarter. Including tax benefit with respect to February's special dividend, quarterly earnings came in at $1.35 per share compared with $1.05 in the year-ago quarter. The quarterly earnings handily surpassed the Zacks Consensus Estimate of $1.17.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 and 2016 has been portraying a downtrend over the past 30 days. This is the second consecutive quarter in fiscal 2015 that Costco has outperformed the Zacks Consensus Estimate. In the first quarter, the company registered a positive earnings surprise of 2.8%.
Revenues: Costco generated total revenue of $27,454 million that increased 4.4% year over year, but fell short of the Zacks Consensus Estimate of $27,571 million. Consolidated comparable-store sales jumped 2%.
Zacks Rank: Currently, Costco carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
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