Costco falls after reporting fiscal Q3 earnings
Yahoo Finance's Jared Blikre joined Yahoo Finance Live to break down the key metrics of Costco's Q3 earnings and why the company is down in after-hours trading.
Video transcript
SEANA SMITH: We also want to get over to Jared Blikre, who has Costco for us. A busy afternoon here of earnings, but Jared, it looks like Costco shares moving to the downside.
JARED BLIKRE: Yeah, well, I tell you what. They were bumping up against a really big level, their record high of 390. So it's going to take a little bit to munch through that level. But I'll tell you what, this is a really good report for the third quarter. EPS blowing away expectations, $2.75 per share. The estimate was for $2.33. Total company comp sales, including gas and currency, was 20%, 20.6%. The estimate was for 16%, so just blowing those numbers away.
When you take out fuel, it's lower not surprisingly-- 15%. It just goes to show you how much people are buying gas for the summer season. Revenue came in at $45.3 billion. That's up 21% year over year. And that beats the estimates of $43.5 billion. Finally, membership fees, $901 million. It's up 11% year over year. And the estimate was for lower at $874 million. So again, watch that 390 price level tonight and tomorrow morning. Guys.
ADAM SHAPIRO: Jared Blikre, thank you very much.
